The Bonds are still trading because they have not been paid by Chemture. The BK extends the date of payment indefinitely. They are one and the same Bond and the amount owed is the same. What we don't know is what the final terms of payment will be as that can be a negotiated settlement. What we do know is whomever is buying them up feels very confidently that they will be paid in full.
the question was answered bankruptcy allows bonds to go on indefinitely while in bankruptcy. CEMJQ has evidently made people believers while going through this process hence the significant increase in the bond price. Simple we owe and we will pay and the people buying the bonds believe
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