porkman385, "I'm talking about under the theoretical and highly improbable circumstances that WaMu re-emerges as a new company. No one knows if they will issue new shares and cancel the current ones, or just convert the current ones."
That scenario is HIGHLY IMPROBABLE. Yes, it is a possibility. But if a new company is formed, formerly dba WMI, the $20 billion in NOLs would be unusable. The NOLs are tied in to WMI and are non-transferable. In my professional opinion, WMI would be shooting themselves in the foot if they reorganized.
Think of it this way; Your company took a loss on a capital investment and that loss can used against future capital gains. Let's say your loss is valued at $1 million, your company is worth $200,000, debts are $800,000 and you are awaiting the possibility of winning an award of $500,000 in a legal action. You wonder if you should declare bankruptcy, start over, change your company name and apply for a new EIN. That is an option that you can choose. But the $1 million loss is only applicable against the current EIN. DECISION TIME! Stay or change?
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