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Immigration Issues/Can fesh L1B nullify an approved H1-B

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Question
Hi,
I am working for Company A and currently in USA on L1-B visa. My visa and I-94 expires in May 2008. Company B is applying for my H1-B in April 2008. Now, Company A wants me to go back to India in May 2008 and get a fresh L1-B filed and return back to USA on that new L1-B. In the meantime, Company B will have already applied for my H1-B. My questions are:
1) If I get selected in the lottery, when will my H-1 be approved? Will it be in Oct 2008 or before that (I know you can start working only after Oct 1, 2008 on the H1)?
2) Will the new L1-B application in May 2008 affect the already applied/approved H1-B?
3) Can I return on the new L1-B in May/June 2008 and later change to H1-B while I am in USA and get the H1-B stamped next time when I go to India?

Answer
Once you are selected in the lottery and get a receipt for the H petition you can file for premium processing and get an adjudication within 15 days, but you can not work until 10/1 on it.

Why wont comapny A file an L extension for you and save you a trip back? It would best for them to file premium processing l extension now before 4/1 and get the approval and then on 4/1 you apply for H and then you can start the H 10/1 and go for visa stamp on frist trip to India after September.

Regards,

Robert

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