the "old Cold" does not apply to this scenario..It is the residual asset that remained after the 65B distribution that is in effect because no other than the equity holders will own it. We are the owner of the whole 47.7B and it is 100% ownership that is more efective in the recovery of NOL.
Imagine that the company can also produce more capital by new borrowings or by the issue of new Ct.s or bonds up to 47.7B or 1 to 1 debt to equity ratio. This will give us 50% ownership that still qualify for the NOL recovery.