Sunedison Inc. (fka SUNEQ)

[es1]

Canceling most likely wont happen.

Consider this example.

You owe the tax man $100
You owe a bank $100
You owe me everything you have left

These are your liabilities

You have $150...your assets

You are forced to pay the tax man.

You pay the bank 50 and they write off the other 50 as a loss

I am SOL

The tax man here are secured debt holders.
The bank is preferred shares
I am common shares.

When the BK is completed my money is gone and shares are canceled.

BUT....

if you have $500 the tax man is paid.

The bank is paid

And i get $350

If your assets are bigger than your liabilities your shares dont get canceled

SUNE has approx $4b more assets than liabilities.

And about 300m shares

Anout $13 a common share after ALL debt is paid.

Shares wont be canceled