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Preservation of Net Operating Loss Carryovers through Bankruptcy

Protecting the company’s net operating loss carryovers is essential. Learn how to navigate the complex rules to preserve the NOL asset.

A bankrupt company's net operating loss carryovers (NOLs) often are one of its most valuable assets. However, complex rules, including Section 382 of the Internal Revenue Code, place limitations on a bankrupt company's ability to preserve the full value of that asset through bankruptcy proceedings. Also, transactions commonly undertaken in bankruptcy proceedings, including the cancellation or modification of debt, can result in a reduction or elimination of a bankrupt company's NOLs. This on-demand webinar will examine the U.S. federal income tax rules that can operate to limit the utilization of, or reduce or eliminate, a bankrupt company's NOLs, and will explore how a tax practitioner can help a company navigate those rules to effectively preserve the bankrupt company's valuable NOL asset.


Runtime: 99 minutes
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Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

The Value of Net Operating Loss Carryovers (NOLs) to a Bankrupt Company and Its Investors

The Internal Revenue Code's Limitations on Trafficking in NOLs (Section 382)

Special Bankruptcy Rules Under Section 382

Corporate Actions to Protect NOLs

  • Trading Orders
  • Charter Amendments
  • Section 382 Poison Pills

The Effect of Debt Cancellations and Debt Modifications on a Bankrupt Company's NOLs

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Why Lorman?

Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

No credit available.

Audio & Reference Manual

No credit available.

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Why Lorman?

Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Jessica A. Hough

Jessica A. Hough – Moderator

Skadden, Arps, Slate, Meagher & Flom LLP

  • Partner in the Washington, D.C. office of Skadden, Arps, Slate, Meagher & Flom LLP
  • Practices primarily in the area of U.S. federal income taxation, advising clients across various industries in a wide range of transactions and controversies
  • Broad experience representing debtors and creditors in restructuring transactions
  • Active speaker and writer on the subject of corporate income taxes
  • Admitted to the Bar of the District of Columbia
  • J.D. degree, The University of Chicago Law School
  • Can be contacted at jessica.hough@skadden.com
Paul Schockett

Paul Schockett

Skadden, Arps, Slate, Meagher & Flom LLP

  • Counsel in the Washington, D.C. office of Skadden, Arps, Slate, Meagher & Flom LLP
  • Advises public and private companies on a broad range of U.S. federal income tax matters, with particular focus on U.S. and cross-border transactions
  • Practice includes significant work involving the tax aspects of partnership transactions and renewable energy project finance
  • Frequently writes and lectures on tax-related topics, including partnership taxation, M&A transaction structuring, tax aspects of troubled company workouts, and renewable energy tax benefits
  • Can be contacted at paul.schockett@skadden.com
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Product ID: 393270
Published 2014
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