Examples of Falcon Holdings in a sentence
As of the Bar Date, two proofs of claim were filed in the Falcon Holdings case, 222 proofs of claim were filed in the Falcon V case, and 20 proofs of claim were filed in the ORX case.
Inc.; Epic Furniture Group, Inc.; The Falcon Companies International, Inc.; Falcon Holdings, Inc.; Howe Furniture Corporation; Johnson Industries, Inc.; Madison Furniture Industries, Inc.; Sellers & Josephson, Inc.; and Shelby Williams Industries, Inc.
On the Effective Date, or as soon thereafter as reasonably practical, subject to the terms and conditions of the Restructuring Transaction, Reorganized Falcon Holdings shall issue or cause to be issued its New Equity Interests to Newco Holdings, and also the Warrants for distribution in accordance with the terms of this Plan.
Reorganized Falcon Holdings will retain its Equity Interests in Reorganized Falcon V.
On the Effective Date, or as soon thereafter as reasonably practicable, subject to the terms and conditions of the Restructuring Transactions, Reorganized ORX shall issue its New Equity Interests to Reorganized Falcon Holdings.
Provided that Reorganized Falcon Holdings is in the future classified as a partnership for federal income tax purposes, each Holder that receives New Equity Interests or any other interest treated as an equity interest in Reorganized Falcon Holdings will be required to file and to report on a U.S. federal income tax return, and will be subject to tax on, its distributive share of Reorganized Falcon Holdings’ items of taxable income, gain, loss and deduction.
This CODI is not to be confused with the possible gain or loss created by the Restructuring Transactions creating the situation where Newco Holdings is the holder of the Falcon Holdings New Equity Interests, but rather focuses upon and is the consequence of the discharge of prepetition indebtedness resulting from the overall effects of the Restructuring Transactions and discharge of Claims generated by Confirmation.
The exchange of such Claims for the New Equity Interests in Falcon Holdings may be treated as a fully taxable exchange of such Claims for the ownership of the Debtors’ assets (with gain or loss on such exchange being determined by reference to the fair market value of the Debtors’ assets) (taking the form of a deemed contribution of such assets to a newly formed Entity in exchange for the New Equity Interests in Falcon Holdings).
Therefore, Falcon Holdings was formed to be the parent company of Falcon V.
As discussed in the preceding section, the net loss or gain, and the CODI that could be generated by the closing of the Restructuring Transactions and the treatment of all Classes under the Plan, is not expected to create material taxable income to the Holders of the Equity Interests in Falcon Holdings, due to aggregate losses and current basis related to the Equity Interests Held by the owners of Falcon Holdings.