ARIOQ shares have already been cancelled. It is over.
BY LAW, common shareholders are last in line for assets. If all the classes in front of them (debtors, creditors and preferred shareholders) do not receive 100% of what they are owed, or otherwise agree to waive that legal requirement, then common shareholders get NOTHING. Period. That is the law.
ARIOQ creditors received pennies on the dollar. Preferred shareholders received NOTHING. Which means common shareholders received nothing. Under the Plan approved by the Federal Court, the common shares were cancelled and 100% of the new shares were issued to the secured debtor in lieu of payment of amounts owed.
ARIOQ is dead. The common shares are long gone. All that is left is the ticker which represents nothing but air.
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