SIRVA, Inc. (fka SIRV)

[Renee]

Reply : It is a phenomenon that has puzzled me over the years , as to why a stock continues to trade when it is known that the common equity will be cancelled .

I suppose there are combinations of unaware traders who keep trading a stock with faint hope the stock will somehow survive and rally , and addicted flippers who will trade anything as long as they can make a buck .

When the music stops on the merry-go-round , ie when the common equity is cancelled , the remaining shareholders
( a.k.a. bagholders ) lose it all , notwithstanding the appointment of a formal Shareholder Equity Committee being approved by a Chapter 11 or 7 Judge , to seek relief for shareholders of the common shares . That process typically takes as many years to resolve as it does to resolve the chaptered bankruptcy .

I did not read all of the SIRVA BK Filing but it appears to me that the BK Judge has assented ( or will likely assent ) to the common equity being cancelled as part of the Chapter 11
Re-organization and Re-structuring , so IMO a Shareholder Equity Committee request would be declined .

Buying SIRV stock at this time will be tantamount to playing Russian Roulette with 5 live rounds in the 6 round chamber .

Renee