No, not on a FAQs page. You can try my 2001 article with J. Mark Ramseyer.
What is important for the Citigroup case is that it sold enough new shares to the U.S. Treasury and the general public that it triggered an ownership change for the purposes of Section 382, and that this ownership change greatly reduces the NOL deduction it can take, though it doesn't eliminate them entirely. Explaining exactly what "enough new shares" and "greatly reduces" mean is tricky.
Section 382 is possibly the most complicated single section of the U.S. Tax Code and I would rate it as the most complex statute I have ever read (except maybe for Section 383, on tax credits
after ownership change). A
1993 Tax Law Review paper on it, "Strange Loops and Tangled Hierarchies,"
is the only law journal article I've ever seen that uses matrix algebra. I happened on an assignment for Professor Asofsky's bankruptcy law course at the University of Houston, "Section 382--- Overview, Identification of Ownership Change",
that starts out in capital letters like this:
THIS ASSIGNMENT IS LENGTHY. IT IS THE MOST DIFFICULT MATERIAL WE
WILL COVER ALL SEMESTER. IT IS SUGGESTED THAT YOU SET ASIDE FIVE
OR SIX HOURS IN A QUIET PLACE. IT REQUIRES INTENSE
CONCENTRATION. IT IS ALSO SUGGESTED THAT YOU READ THE
MATERIALS IN THE ORDER ASSIGNED
Section 382's complexity made it an ideal vehicle for slipping extra billions to Citigroup.