PUBLIC LAW 100-647—NOV. 10, 1988
102 STAT. 3397
(B) by striking out "deposits described in subclause (II)" in clause (iiXIII) and inserting in lieu thereof "the amount of deposits in the new loss corporation immediately after the change". (9) Paragraph (6) of section 382(1) of the 1986 Code is amended by striking out "shall be the value of the new loss corporation immediately after the ownership change" and inserting in lieu thereof "shall reflect the increase (if any) in value of the old loss corporation resulting from any surrender or cancellation of creditors' claims in the transaction". (10) Section 382(1) of the 1986 Code is amended by adding at the end thereof the following new paragraph: "(8) PREDECESSOR AND SUCCESSOR ENTITIES.—Except as provided in regulations, any entity and any predecessor or successor entities of such entity shall be treated as 1 entity." (11) Paragraph (1) of section 621(f) of the Reform Act is 26 USC 382 note. amended to read as follows: "(1) AMENDMENTS MADE BY SUBSECTIONS (a), (b), and (c).— "(A) IN GENERAL.— "(i) CHANGES AFTER 1986.—The amendments made by
subsections (a), (b), and (c) shall apply to any ownership change after December 31, 1986. "(ii) PLANS OF REORGANIZATION ADOPTED BEFORE
1987.—For purposes of clause (i), any equity structure shift pursuant to a plan of reorganization adopted before January 1, 1987, shall be treated as occurring when such plan was adopted. "(B) TERMINATION OF OLD SECTION 382.—Except in a case described in any of the following paragraphs— "(i) section 382(a) of the Internal Revenue Code of 1954 (as in effect before the amendment made by subsection (a) and the amendments made by section 806 of the Tax Reform Act of 1976) shall not apply to any increase in percentage points occurring after December 31, 1988, and "(ii) section 382(b) of such Code (as so in effect) shall ' not apply to any reorganization occurring pursuant to a plan of reorganization adopted after December 31, 1986. In no event shall sections 382(a) and (b) of such Code (as so in effect) apply to any ownership change described in subparagraph (A). "(C) COORDINATION WITH SECTION 382 (i).—For purposes of
section 382(i) of the Internal Revenue Code of 1986 (as added by this section), any equity structure shift pursuant to a plan of reorganization adopted before January 1, 1987, shall be treated as occurring when such plan was adopted." (12XA) Section 621(fK2XC) of the Reform Act is amended by inserting "and reincorporated in Delaware in 1987," after "1924,". (B) Clause (ii) of section 621(fK2XC) of the Reform Act is amended to read as follows: "(ii) the amendments made by subsections (e) and (f) of section 806 of the Tax Reform Act of 1976 shall not apply to such debt restructuring, except that the amendment treated as part of such subsections under section 59(b) of the Tax Reform Act of 1984 (relating
�
