Renee
1 year ago
Shareholders of public companies that are either in a Chapter 11 Reorganization or a Chapter 7 Liquidation are the very last groups to obtain any monetary distribution.
In ALL instances the Secured Creditors come first, not much different than a first mortgage holder on a home, then Unsecured Creditors come second, then Bankruptcy Trustee costs, then Preferred Shareholders if there is any money left, then common equity shareholders. In very rare instances after all prioritized claimants have been paid in full the common equity shareholders may receive a very small distribution or warrants to purchase new shares at a discount if the company successfully reorganized under Chapter 11.
So yes, to your question, shareholders lost everything when the BK Judge cancelled the equity (shares).
Invest-in-America
2 years ago
BOXD: O.K., I copy that, Chief; that's a very CLEVER investing perspective, Young Lady!! (I don't know if this BOXD Puppy will hold a RUN here, per se, but Mr. "SubsLover" was on this yesterday, when he posted to another fellow that this was UP by 83% after its Close Wed.; so then I began pondering it.)
Invest-in-America
2 years ago
BOXD: Well, HOWDY, Capt. GAIL!!!! Everybody is over on that silly ORION'S MONEY STOCKS behind this one, naturally --- nobody wants to party on the iHub BOARDS anymore. Hey, where is our Pal, Mr. EZMoney on this one???? And, hello GARYST, Bro --- what's UP, Homeboy????? HA-HAAA!!!
Hey, Capt. GAIL, & I was just pondering as to, "WHERE THE WHITE WOMEN AT???!!!!"
That's ME, on the right!!
Invest-in-America
2 years ago
BOXD: Well, HOWDY, J-73!!! Heck, now I can DRY MY TEARS over here, & SMILE a tad bit!! (Thought I was in the old proverbial, 'Twilight Zone'.)
PS: All of my childish joking aside, YES indeed, it appears that something is in the works now to RESCUE this sick Puppy.