Senoj,Good point. There are two ways, from my understanding,...

Senoj,
Good point. There are two ways, from my understanding, that tax losses due to assets being "marked to market" can come about.

1. What OZL did with it's full year results when it wrote assets down by $2.3B (or whatever the numebr was), thereby generating a loss on the P&L and carrying forward tax losses to offset against profits.
2. When the assets are sold, the difference between the book value on the Balance sheet and the price recieved becomes either a profit or loss for the P&L and if loss, these are carried forward to offset against future profits.

So either way, OZL keeps the tax loss, it does not transfer to MM.

The full year result had the announcement of the writedowns. Comapnies normally do no more than that.

As I have said previously, I am not a tax accountant, so am happy to be corrected.

HT1