the risk of going down is 95% or better. some companies have a plan before declaring bankruptcy, sometimes the creditor has a plan, and sometimes the plans all get tossed by the judge. play them like a dangerous penny stock. get out fast. don't bet the farm.
wamuq was a little different because the government was involved and left room for a lawsuit which could benefit the wiped-out shareholders.
vrmlq was different because the judge refused to wipe out the shareholders when there was a bail out by a larger company.
frpq was a typical bankruptcy where the stock dropped from the teens to .03 and on a rumor went to .08. the commons got wiped the week after i sold it.
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