Replies to post #78451 on Lehman Brothers Financial SA (LEHNQ)

[Dor]

Joe, do you have access to the ruling, my guess is it was a private letter ruling. Does the ruling only address the status of the NOLs at the end of a full liquidation. The ruling may not address any CODI offsets which I would be surprised if it did but then I’m surprised we still have some value. Oh well!

[wayne49]

Lehman did not exit bk. They emerged from bk. Thete is a huge difference in the two. Do not get them confused. V.

[goodietime]

"Lehman got a ruling from the IRS saying all NOls will be eliminated upon full liquidation. Twist that how want to wiggle out of that, but in the end it that is what will happen. This has already been settled with the IRS."

Joe, I'm a bit confused, USUALLY, the NOL's are a VERY VALUABLE Commodity.

WHY would Lehman, WANT and PURSUE a 'ruling', that would basically cause this GREAT VALUE TO BE LOST???

What is/was the rationale of LOSING, est. $55BILLION NOL.
After Tax rate = $11BILLION ????

I can't see anybody PURPOSELY throwing this out?