Seems like they filed BK as per this report. But do not see any proceedings of the BK court anywhere. Not sure how things will eventually work out as BK court can only decide whether the old investors have any residual value. In the absence of any rulings it depends on what will be negotiated bwteen majority old shareholders, FDIC and new investors. BK court will agree on the negotiated settlement.
Obviously this is a grey area due to the involvement of FDIC. But i surely think there is a great amount of value to the Q stocks till the negotiation/ BK setlement is done.Reson new investors will want to eliminate the old shareholders and hence may buy up the cheap old shares to ensure settlement of all issues by end of January/ middle of February
Disclaimer: Do not buy or sell based on my recommendation. I am not your financial advisor .My recommendations are based on my intuition, research or both and may be right or wrong.
