What are you talking about tax man? The company does not have to be closed to generate a CODI.. VNR generated a CODI back in 1/16 and they are "not closed" You need to change your name, it does not fit you!! Stop lying to everyone!!
People are selling because they do not want to get stuck with a CODI. Plain and simple!! The risk is not worth the reward here.
Good point cheapskbuyer, I thought that was the case!! The corp. was already existing. Second guessing myself at this point with all of the wrong info. these guys are posting!!
The key words here are NOT YET!!!!!!!!!!!!! But it will come!!!! I cannot believe there are so many morons in the world.
Are you serious Pedantic34??? We are just trying to give everyone a heads up on what is coming down the road!!! WAKE THE HELL UP EVERYONE!! If you do not believe what we are saying about CODI then ask a CPA!!!!!
Probably not. I doubt they have finalized any restructure plans, but who knows they do not really inform anyone of anything.
No that is incorrect !!! BK has nothing to do with CODI!!!! A CODI can be generated in or out of bk!!! But being bankrupt will not protect shareholders from a CODI !!! Your shares can be wiped out but you will still be on the hook if there was a cancellation of debt.
They are only liable for CODI when the CODI is generated. Most of the time a CODI is generated after an agreement on the restructure is made. That is why most people sold after the announcement of BK. they wanted to get out before a CODI was generated!!
Do you realize that if a CODI is generated you are going to get killed with taxes And still could lose everything? And you will still have to pay those taxes even if your shares are wiped out.
Well I agree. I'm just saying it might not be as huge as some of the other CODI's of other MLP's such as LINE. These people seem to want to take that chance.