Question
From:(redacted)
Sent:Thursday, August 11, 2005 4:25 PM
To:Ovuka, Nancy M.
Subject: FW: Receipt of Stockin a Bankruptcy Plan
Nancy-
Is the receipt of stock as a distribution in a bankruptcy plan an 801.30transaction, on the theory that you are essentially converting claims in thebankruptcy into stock? (Assume that 802.63 is unavailable.)
Practically, this seems like the right result, since the issuer often does notknow or cannot keep track of what each claimant will receive, especially whereclaims are held through nominees.