The management and creditors of JAL are fighting to keep it listed. If they win...then the folks holding stock will probably win big. If not...then vice versa.
I have never played a grey market or foreign stock before now. My take is all Q stocks that fall below the minimum exchange requirements become delisted. They end up on the pinks. Hopefully JALSF will follow this trend and we will recover from our current low. Time will tell.