During a restructuring deal through Forest Oil, I acquired 324 shares of a company called Lone Pine Resources that is currently bankrupt. The stock was worth ~$4,000 @ $15.24 / share. It is now at $0.0070 / share for a total of $2.27!
It doesn't matter what it was worth - it matters what your cost basis is going to be - you can't write off other people's losses - as a general rule, anyway.
The only other question I would have would be whether or not there is any potential gain in this stock? If so, you could sell it on the last trading day of the year, then re-buy it on the first trading day of 2014. Locks in your loss - now, while you need it, and preserves your participation in any future possible gain (heck you can buy back in at $3.00 and increase your position-