If we assume a new entity, The NOL alone is impossible without added capital. Recapitalization means converting creditors claim into shares. Since the remaining asset is about 24B, A large part of this (about 10B) is a reserve or restricted cash and therefore, the possible capitalization will be coming from 14B difference.
This 14B is telling us that there will be no seventh distribution if we are expecting it to be used as capital for the new company.
Or, Maybe, only about 5B will be used as capitalization in case if REIT company is established as a new business. This is for the reason that about 5B of the remaining asset is RE in nature. In this case, about 9B more will be distributed in the seventh.
In anyway, we know the end game is close.
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