Exact day
With the liquidation process, there is no exact timeline or exact ending date. The only date that was definite was that anyone with a claim had to file by 05/31/2016. After that it is how long it takes the trustee to look at the case and do the work plus sending out any required notices. It is not unusual for the process to take months, but at some point all of the work will be done, the liquidation proceeds distributed, and that will be it. At that point a final distribution report will be entered on the docket and the shares cancelled.
If this was a Chapter 11 proceeding, then it would be much easier to tell when the end would come, since there would be an court date announced for the confirmation of the plan, after which a ten (eight?) day appeal timeline would run, and then the court would enter an order with the effective date; at which point the shares would be canceled.
Here in a chapter 7 proceeding, there is no definite timeline, but it does not really matter since earlier messages mentioned that the trading in FEECQ has been suspended for lack of reporting.
While in theory one does still own shares and could trade them off of the exchange, it is hard to believe that anyone would buy shares in a company that no longer trades and is being liquidated with nothing expected for the common shares.
Louis J. Desy Jr.
