Yes.
Considering 99% of public bankruptcies completely slaughter equity, leaving them with absolutely nothing.
Fair and reasonable isn't what equity deems so, it's what the bankruptcy process deems so. Equities opinion, is as useless as 15 dollar bill.
DISCLAIMER: ALL MY POSTS ARE MY OWN PERSONAL OPINIONS AND NOT RECOMMENDATIONS TO BUY, SELL OR HOLD SECURITIES. DO YOUR OWN RESEARCH/DD AND MAKE YOUR OWN TRADING DECISIONS.
People kill for money. What makes you think they will not lie to you for yours?