row grows over sons of gwalia decision , page-5

cuzo,

I missed your post before I put my reply up, nice draft legislative wording.

It would be very easy for banks and public companies to avoid the SOG issue purely by conducting all activities in a subsidiary and in effect putting it out of harms way by having it incur debt, trade creditors & hold assets which the public company shareholders would not be able to access if the entity went into VA etc.

Like CMR if subsidiary is sold off & nothing left for shareholders all you have is a claim against empty shell.

So you need to see where the tax losses reside to see which entity will be subject to DOCA and if listed entity is chosen don't be surprised if DOCA is conditional on no class action being taken, putting the onus back on you guys, nasty but that's the way it works with work outs.

Does anyone have feedback on what is happening at mill site?