I have been through BK's with other companies. BK judge cannot adjudicate nor process claims of fraud. A Judge will take this into account when approving or disapproving a Plan of Reorganization (POR). Shareholders are the last rungs on the ladder, if thry do not recover in BK court, their chances of recovery in Civil or Criminal courts are nill. Take Enron for example, bondholders always end up with assets.
In this case, it is possible this judge will approve a POR that gets shareholders beaks wet, because this corp is still generating revenue and has plenty of assets. A reorg like General.Growth will work great here. Management's ineptitude/fraud put this corp in BK.
NEW BLUE 2016 CAMARO
JUST IN TIME UZ!
