When a company announces it has filed for Chapter 11 bankruptcy does the stock then become worthless?
August 20, 2009 by Bankruptcy and Debt Settlement Tips
Filed under More Bankruptcy Answers
Can you answer Midwest Gregg’s question about Bankruptcy?:
RH Donnelly (RHDC) announced it is going Chapter 11 today and I ownstock in the company. Will it go to zero today and become worthless?
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RH Donnelly (RHDC) announced it is going Chapter 11 today and I ownstock in the company. Will it go to zero today and become worthless?
Get a Money-making Website
Bankruptcy Feedback: Almost certainly. The reorganization plan approved by the bankruptcy court typically eliminates stock.
Bankruptcy Feedback: No The worth is decided by Federal court on winding up.t necessarily.