In ALL Chapter 11 Reorganization BK's the company must have every possible opportunity to be viable going forward. When a BK Judge cancels the shares / equity it is for that purpose, to facilitate the company being viable with new shares / equity. Plus, the secured creditors want as much surety as possible so they have much of the new equity to augment their secured loans.
There are no recourses for shareholders of the cancelled equity since the U.S. BK Laws protect the company and Secured Creditors, unsecured creditors, and virtually all other approved claimants before shareholders' rights.
No Court would allow a Class Action by shareholders against the BK company after the Judge has made the Reorganization PLAN effective and simultaneously cancelled the equity. The time to have made any claim(s) was during the Reorg process, not after the effective date of Reorg.
Simply, it is too late for any actions by shareholders, and that is not merely my opinion but is stipulated in the BK Laws.
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