Visteon definitely has a future...
As a company. Now, let's not mistake the stock, symbol VSTNQ, with the company called Visteon. These are two different things.
The company is now, and will be making money. Lots of it. Your gut is absolutely correct in that matter.
The current stock, VSTNQ, is the unknown. What the judge said about the valuation and a cocktail napkin tells me that he, the judge, is not going to believe ANY valuation, whether performed by the BOD or by the HFs. All of them have a vested interest in skewing the numbers their way. BOD low, HF high, of course. The truth is someplace in between.
I do not think the judge is hinting that he will agree with the BOD. I also think that he will not agree with the HFs. He is, as he should be, and independent thinker and will agree with himself, and himself only in this situation.
If it turns out that there is MORE money in the Visteon's coffer after satisfying all of the senior debt, the commons may get some. How much, depends on what the valuation of the company really is.
One of the extreme possibilities is that Visteon can pay all of their debt, and the BK will be terminated. This means the commons survive intact. They will probably shoot up to several dollars per share rather quickly.
Another extreme possibility is contained in your question #2. Yes, if the BOD gets their way, the commons will be wiped out, and these who do not sell beforehand loose all their money. Oh, the joys of playing with the stocks that have the letter "Q" appended to their symbol...<grin>
Now it's your turn, take a deep breath and decide what to do...good luck!
-mm-
Market Data 
Markets 
AI
