Liquidating distribution to shareholders
The transaction is treated somewhat differently if a shareholder owns more than one block of stock, and receives a series of distributions in complete liquidation. To be sure, since the state law in the IRS example brought about an automatic transfer (to its shareholders) of a dissolved corporation’s assets, it followed that the company’s dissolution did not give rise to a complete liquidation.In that case, each distribution is allocated ratably among the several blocks. So, the ruling concludes that the dissolution and reincorporation did not result, respectively, in a distribution or transfer of the corporation’s properties.NEW YORK--(BUSINESS WIRE)--Deutsche Global High Income Fund, Inc.(formerly traded on the NYSE under the symbol “LBF”) (the “Fund”) announced today the payment of a final liquidating distribution to shareholders of .823 per share.Eventually, company officers learned of their plight and reincorporated the business in the same state.
In the ruling, a corporate taxpayer had been incorporated in a state on a particular date, let’s say January 19, 2007.These include all statements relating to plans, expectations, and other statements that are not historical facts and typically use words like “expect,” “anticipate,” “believe,” “intend,” and similar expressions.Such statements represent management’s current beliefs, based upon information available at the time the statements are made, with regard to the matters addressed.All forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in, or implied by, such statements.Management does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.