I can't 100% confirm this but the way I read this is that dispursments, if any, will be made to the shareholders of record from the date of record June 20 2009. I can't comfirm 100% if that means that you will get paid if you buy this. I would have thought that if you can't transfer ownership after June 20th then they would have halted trading on that day, so I am curious as to why it is still trading, I do know that in the case of a stock split, there is a day of record when they determine how many shares are split and to whom, but if you buy shares after that date and before shares are distributed then the seller is giving you the right to those split shares so why would this be any different since it is still being allowd to trade? Hmmmm
They show $6,411,000.00 expected to go to shareholders right now with 20,515,269 shares O/S that = .3125 per share. Don't know for sure if you will get it if you bought after June 20th. I will keep digging because this could be a easy double or triple if it allows you to collect.
Copy:
On May 6, 2009, Handleman Company petitioned the Circuit Court for Oakland County, State of Michigan, for an Order of Limited Supervision over the Liquidation of Handleman post-dissolution. On May 20, 2009, the court order was granted and declared that shares of Handleman common stock became non-transferable 30 days after notification to shareholders. Accordingly, Handleman Company’s common shares became non-transferable on June 20, 2009. This allows the Company to reduce costs during liquidation and maximize the liquidated value of the Company for the benefit of its creditors and potential benefit to its shareholders. The Company will distribute proceeds, if any, to shareholders in proportion to their interests as of the close of business on June 20, 2009, the date of record.
