The common shares WILL be cancelled in this Chapter 11. The plan which will do so has been filed and accepted by the court. It is almost certainly a done deal. All that is left is for the final court hearing in January to complete the bankruptcy plan. Then the common shares will be cancelled and the stock will be worthless. Anyone holding the shares at that time will have very expensive wallpaper.
The company has warned shareholders of this over and over. The most recent 8-K details the plan as accepted by the Bankruptcy Court. You should review it for confirmation.
The Company is insolvent with negative shareholders' equity. Even before the company went bankrupt, the Common Shareholders owned nothing. They were drowning in debt and shareholders had already lost everything.