One thing that I find particularly significant that many people on this board fail to recognize is the fact that we as shareholders are currently involved in the 2ND LARGEST BANKRUPTCY CASE ever to be put through the US courts. The largest BK case was Lehman Brothers last year. Look at how much media attention that got. Now it is our turn and there is a lawsuit involved. There are billions of dollars involved that are not accounted for.
From it an example of recovery is given regarding Trump's BK case:
"...The more prevalent view is that when equity is marginally in the money, shareholders need an equity committee. While there may be substantial debt in a given Chapter 11 case, expert financial testimony can show equity is substantially “in the money”, even if only at $1-$2 per share. For example, in the recent Trump Hotel and Casinos case, there was approximately $2bn in debt, and approximately 30 million shares of common stock equivalents. The equity committee increased the recovery for shareholders from virtually nothing to tens of millions of dollars ($2-$3 per share). This return turned out to be inconsequential to bondholders, who received most of the new equity...."
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