Lehman Bros 7.25% Pref'd Series P (fka LEHPQ)

[Grinner1]

Just reading your reply once again....if I understand what you are saying / As a company is able to come out of BK by getting enough financial support ( pay off debtors, clear books, prove assets) old issued company stock becomes either worthless or is bought out. Am I close? Is there a possible third option where the old stock shares remain viable "New" company shares?

Thanks for your taking the time to chat and if anyone else can join into this thread please do.