good question. I think the POR has to be submitted and approved by the court. So when it is submitted we will know if there is a plan to cancel the shares but they won't be cancelled yet. I am NOT sure of this so please if anyone can confirm it would be appreciated. I think Kaiser Aluminum was still trading for a while after it was announced that the common stock would be rendered worthless. I am very much an amature who has been following this with interest. If I learn anything from a better source I'll let you know. Here again is the response I got from the company:
"The process of determining whether or not Calpine’s current common stock has any value once we emerge from Chapter 11 will play out during the restructuring of Calpine and while we prepare a Plan of Reorganization. Until this process is complete, it is inappropriate to comment or speculate as to the potential value (if any) of the stock.
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