Debt forgiveness is a taxable event for Unit Holders or so I've come to understand. So I see two unknowns causing the price of the Units to be depressed. The #1 issue is the chances of survival of LINE if there is NO debt forgiveness. The #2 issue, which will need much clarification...What is the tax hit to the Unit Holders if there is debt forgiveness. If there is debt forgiveness and a tax hit to unit holders one would need to assess the risk/reward of buying LINE Units factoring in the added expense per unit of a Tax hit. The waters are way to muddy to buy shares of LINE at this time.
For a share holder of LNCO (the stock) and not LINE (the Units) there is no risk of a tax hit for debt forgiveness, if my understanding is correct. I am confused by the price difference between LINE and LNCO. I make it a point to not by in to confusing situations.