no value is coming from the restructuring. that does not mean shares are being cancelled, or that they have no value. this is pure speculation on your part.
The only thing that will happen for sure is that the outcome will be a surprise one way or another. On one side, multi billion dollar potential acquired by multi billion dollar entities... for 4.3 million, on the other side, the probability of following a typical bankruptcy liquidation as you say is 100% going to happen...we’ll see