LINN Energy (fka LINEQ)

[1manband]

The judge will have to appoint a special committee to re evaluate the true assets valued today.

No, he doesn't. That is not how bankruptcy laws work. And the Judge didn't, since the Bankruptcy Plan was confirmed. It will all be over within the next 30 days.

I sympathize with the common unit holders that lost here, but there is really nothing unusual about this bankruptcy. Common equity always comes in last. On the other hand, if the Judge somehow puts the brakes on the already approved Plan, that would be unusual. Very unusual. And highly unlikely.

Traders are now really just playing a game of musical chairs with mostly imaginary chairs. When the music stops sometime in the next 30 days, without any additional advance notice, the stock will immediately go to zero with little opportunity for people to get anything of value for their remaining equity units.