QSGI, Inc.(fka QSGI)

[hotmeat]

While i agree that commons are not 100% "SAFE" as in any bankruptcy, there are a few facts that you continue to omit:

(1) Only the judge can approve any cancellation of equity so even if the company submits a plan which promotes the judge has the final say. It must be shown that recovery for equity is not possible or the company is hopelessly insolvent.

(2) The company has settled with creditors so they will most likely emerge as a debt free entity which goes hand in hand with my previous point that insolvency must be proven. This is rare since in most reorganizations the creditors are not paid in full and are offered a stake in the new entity as compensation. This is clearly not the case here and i dare you to prove otherwise.

Note: i am no lawyer but i have have intensely followed the WAM_Q case since its inception so i am familiar with these types of proceedings. There was a poster there also who posted like you using links to general bankruptcy cases but upon further investigation it was all shown to be meritless and just
"SMOKE AND MIRRORS".
I'm just saying that is!!!