I need to learn more about the process.
In that case, why do these shares exist?
If everything was handed over to the creditors than all the shares should have as been as well.
That would only make sense to me. If you invest in a company and it goes BK and the court rules there is nothing left, then the shares should be removed from our account and handed to the creditors along with the shell. They can then sell the whole shell or reissue the shares they now hold.
I clearly am not getting some step in the process OR they are terrible about cleaning up loose ends.
If there is no company there should not be any shares. Imagine the whole process in reverse. Shares were issued for a price. Now they are taken back for a price (you lost what you paid for them).
What am I not understanding?
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