Sanchez Energy Corp. (fka SNECQ)

[jbaxter]

I don't know what other proof you can give anyone here. It says plainly in the filings that common stock would be wiped out, the unsecured bonds had traded at a low of 0.01 (that's right for every $1000 of debt held before BK, it was selling for only 10 cents, 10 CENTS for every $1000 in debt!!! And that has way more priority in BK than PFDs, let alone common.

PFDs, Common and even some debt seems like will become totally worthless. If anyone needs money in the common stock, get it while you can, because under the plan, it will be worth zippo. They can't even pay back the money that was lent to them to get them through the BK process. For common and PFDs, it's over as soon as the judge signs the line.