It’s bankrupt cause the tax’s are not paid too the common share holder after the share holders purchased the debt. In other words the principal obligation was met but not the underwriters ie: government whom sold there position too the common shareholder and holds the common shareholders trust.
What will happen is the collateral that was returned too the share holders that holds the deficit for what is owed to them of the company will lend back there interest too the company that will take place of the tax credit owed to the common shareholders and the common share holders will become the bag holder of the debt “ credit default swap”.
This is not rocket science. It’s all in the understanding of the terminology. You don’t loose all your position if you don’t sell. You can hedge your position if traded properly if debt obligations are not met in the contractual time set out by the powers to be.
News 
Market Data 
Discover 
AI
