Home > Boards > US OTC > Biotechs > Rock Creek Pharmaceuticals Inc. (RCPIQ)

No, I am right. Under Chapter 7, the

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1manband   Sunday, 05/19/19 09:18:16 PM
Re: Value_Investor post# 29707
Post # of 29768 
No, I am right. Under Chapter 7, the equity is automatically cancelled and the entire company is liquidated. ALWAYS. There is zero chance that the stock will be a shell, as BY LAW the stock is cancelled under Chapter 7! There is no reorganization allowed under Chapter 7 - only full liquidation and cancelation of equity.

This is the LAW.

I suggest anyone new to bankruptcy read the regulators warnings about bankruptcy, especially Chapter 7.

FINRA - http://www.finra.org/investors/what-corporate-bankruptcy-means-shareholders

SEC - https://www.sec.gov/reportspubs/investor-publications/investorpubsbankrupthtm.html

Rock Creek shares will be cancelled, and common shareholders will receive nothing. Anyone foolish enough to buy and hold these shares will lose everything. EVERYTHING. And that day can happen at any time, without any warning.

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