Chemtura Corp (fka CHMT)

[Macatak]

jrdig7, I appreciate your help.- big time

Again- I'm a freshman to this game of stocktrading:

So, if the common stocks are wiped out, we get zero, correct?

The common stocks aren't moved into new stocks because of a bankruptcy, correct? Or are we given a certain turtle wax prize like 5 cents a share or something for our common stocks ? I'm trying to see all angles here.

On the flip side- The consensus on this site is that the common stock will remain and our stocks will continue to rise because the company will continue to profit. With the company being the 3rd largest in the world, we should profit unless the judge says to wipe out common stock? What would be a reason that the judge would say to wipe out common stock?

Am I on the right page with this?