Actually, the loss carry forwards are common in BK proceedings, so no big deal there.
That's not an accurate statement...you may believe that but in the majority of chapter 11 filings the loss carry forward is minimal. Section 382 of the tax code covers loss carry forward allowance. In GM's case the IRS EXEMPTED the government from complying with the law. It's been discussed and documented. The reason they exempted the government from having to comply with section 382 is the loss carry forward violated the law and would not have been legal if they were held to the requirement.
You can say what you believe but in this case you're wrong. I'm not sure how exempting a corporation from paying $45B isn't a big deal? Explain why? Thanks.
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