Cuckoo Corporation has just lost a $500,000 product liability suit. Before the lawsuit, its assets were valued at $600,000 (basis of $400,000), and it had general liabilities of $300,000 and $100,000 of bonds outstanding. It also has a $50,000 capital loss carryover, and a $150,000 NOL carryforward. Cuckoo is solely owed by Emmy Lou. A restructuring creates Turaco as the successor company to Cuckoo. Which of the following statements is false?

a.The bondholders of Cuckoo become shareholders of Turaco.

b.When Turaco reduces Cuckoo's tax attributes for the cancellation of debt income relief, it first reduces the capital loss, then the NOL, and last the basis in the assets.

c.This transaction qualifies as a "Type G" reorganization.

d.Emmy Lou may not receive any stock in Turaco in the restructuring.