Verso Paper Corp. (fka VRSZQ)

[BCNstocks]

I checked. It does NOT state that commons will be canceled. What it does state is the following:

Verso's restructuring will reduce the company's debt by approximately $2.4 billion upon emergence. Verso expects to emerge from bankruptcy with $595 million in exit financing to support ongoing operations and capital investments. The exit financing will consist of an asset-based lending facility with borrowing capacity of up to $375million led by Wells Fargo Bank, National Association, and a $220 million term loan facility with available loan proceeds of $198 million led by Barclays Bank PLC.

$VRSZQ