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Started By
Message
bankruptcy filing
Posted on 5/18/16 at 8:30 pm
Posted on 5/18/16 at 8:30 pm
when a company files for chapter 11... what happens to the shares that I own ?
9
Posted on 5/18/16 at 8:53 pm to Teauxler
EXXI?
Posted on 5/18/16 at 8:59 pm to Teauxler
quote:
Occasionally, publicly listed companies go bankrupt. The company's shareholders, depending on the type of stock they hold, may be entitled to a portion of the liquidated assets, if there are any left over. However, the stock itself will become worthless, leaving shareholders unable to sell their defunct shares. Therefore, in the case of corporate bankruptcy, the only recourse is to hope that there is money left over from the firm's liquidated assets to pay the shareholders.
Source: Investopedia.com
Posted on 5/18/16 at 9:08 pm to Teauxler
Sandridge?
Ultra Petroleum?
Ultra Petroleum?
Posted on 5/18/16 at 9:43 pm to Teauxler
BBEP
Posted on 5/18/16 at 11:02 pm to Teauxler
Ch 11 is reorg, as opposed to liquidation in Ch 7.
You could see no change to your shares, you could be diluted, your class of shares could be wiped out. Nothing happens at filing... any changes to share would be part of the plan.
You could see no change to your shares, you could be diluted, your class of shares could be wiped out. Nothing happens at filing... any changes to share would be part of the plan.
Posted on 5/18/16 at 11:02 pm to Teauxler
You're going to basically be left with 0 or a single digit % of your original equity. Equity holders always bear the brunt of chap 11.
Posted on 5/18/16 at 11:19 pm to cwill
Six investors lost it all.
Posted on 5/19/16 at 7:56 am to Teauxler
Chapter 11 allows the company restructure their debt and stay in business. What happens to your stock depends on the company. 20% of companies that file chapter 11 survive.
When Energy 21 filed bankruptcy their stock got pummeled. Energy 21 was in bad shape from acquiring some shitty assets and then the drop in prices really crushed them.
Southcross Energy is in bad shape simply because of the drop in prices. Once they filed bankruptcy in late March, their stock doubled that day.
When Energy 21 filed bankruptcy their stock got pummeled. Energy 21 was in bad shape from acquiring some shitty assets and then the drop in prices really crushed them.
Southcross Energy is in bad shape simply because of the drop in prices. Once they filed bankruptcy in late March, their stock doubled that day.
Posted on 5/19/16 at 11:20 am to Teauxler
quote:
what happens to the shares that I own ?
you get to frame them up on the wall and admire how you owned part of a company at one time!
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