Replies to post #78455 on Lehman Brothers Financial SA (LEHNQ)

[zulual]

Especially, I don’t think BK court will allow any one to destroy the value of NOL which is owned by equity 51% and creditors 49%. IMHO
Court has moved all equity shares into OBS to protect the value of NOL without causing ownership change.
If NOL will be ZERO, then no need for those protection, no need tax inquiry for NOL ruling.

[Joe Stocks]

The alternative is to lose the NOLs. Lehman was to lose them anyway eventually due to the high dollar cancellation of debt amount that greatly exceeds the NOLs. By keeping the OBS there was no change of ownership to the creditors. The IRS allowed them to use the NOLs to off set taxes through the end of liquidation.