Any Escrow Share News?
Yes, they are completely worthless. They were placeholders in the event that there was some major discovery of hidden assets. No such discovery was made prior to the date this bankruptcy ended, and thus, there weren't the billions upon billions of "extra, free dollars" in value that the Escrow share bag-holders were expecting/hoping would flow down to them. There weren't. So there won't be.
Sorry to break it to you, but that's the hard cheese re: the Escrow shares. I'd tell you to write them off on your taxes but whatever losses you had were already baked into the common shares that pretty much got obliterated. Hope that you took whatever losses back when you were able to.
Please note that commons weren't the only securities receiving these escrow shares? I received a number of escrow shares (aka "placeholder shares" on my WAMPQ shares. They still sit in my brokerage accounts. Luckily, I made some good money of the regular preferred's, but the "fulcrum" securities were the PIERS (WAHUQ) shares; anyone buying these in the single lower digits made bank on this (no pun intended) investment.
Quite frankly, I was leaning more heavily in the regular preferred and the DIMEQ Wts., but held the H PIERS as my hedge. So glad that I hedged this out-of-control dumpster fire.
GLTA
"Thank you, Spanky-san, for giving Ling-Ling honor in paper hat form!"
