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clawmann

09/13/13 5:06 AM

#389424 RE: Lucullus #389423

They cannot issue non-voting preferred. That prohibition is in the Bankruptcy Code and is reflected in the Articles of Incorporation. It must stay there until the Plan of Reorganization is terminated.

So the issuance of voting preferred still must be done in a way that does not result in an ownership change that would threaten the NOL's.