This seems to clarify NOL Status and also seems to support Escrow Shareholders Claims to the Estate.
Do you have an Opinion on what and when Escrow Shareholders will be paid?
You said ...
The utilization of the NOL is subjected to maintaing intact the pre bankcruptcy capital ratio in which the escrow shareholders are the majority. Under the relevant IRS tax provisions the NOL can be used as a tax shield to offset any net profits derived from rolling up the subsidiaries (100% owned) into the consolidated financial statements. So all you need to ask your self is whether or not the reporting subsidiaries in this fiscal year has been reporting quarterly net profits cumulating in an overall net profit at year end. Then if the answer is yes then it would be unwise not to tap into the NOL at a consolidated level assuming the old capital ratio remains intact.