Protein Polymer Technologies, Inc. (fka PPTIQ)

[ilenes]

There's an absolute priority in BK, that has secured creditors being paid first, and then sort of a waterfall after that...so that each class that is successively lower on the waterfall gets paid if enough money exists after the previous class gets paid. "Existing shareholders" usually doesn't really exist...that is, since the shares trade freely, its musical chairs...if you own when the money comes, its yours. Its not a class action, where your ownership at some established point in time gives you privilege of payment.

I would expect that the value to the common shareholder here will be if and when the shell is sold. Probably less of a "payout" and more of an increase in the value of the shares you're holding.