When the secured creditors get a little over 10% of what they're owed, the unsecured creditors get zip, the "other obligations" get zip, all those whose interest is of higher priority getting screwed in this bankruptcy, losing 100% of any investment in the stock is inevitable.
People owed money by a company that goes bankrupt get screwed. That statement by the judge has been distorted to become some sort of guarantee that nobody gets screwed, and that is absurd to even suggest. When this is done, I'd love to see shareholders or even one of the lenders walk into that courtroom and tell that judge "you said 'best interests of stakeholders' last year, now we're getting screwed, where's our money?" I'd expect the judge and every court officer to need a recess in order to stop laughing at that ridiculous notion.
People get screwed in bankruptcy, and a lot of people are getting screwed in this one. Shareholders are going to lose 100% of their investment in this stock.
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