  Given a noncommutative (Cohn) localization $A \to \sigma^{-1}A$ which is
injective and stably flat we obtain a lifting theorem for induced f.g.
projective $\sigma^{-1}A$-module chain complexes and localization exact
sequences in algebraic $L$-theory, matching the algebraic $K$-theory
localization exact sequence of Neeman and Ranicki.
