Legal Question in Bankruptcy in California
If a company is operating as a chapter 11 debtors in possession, what happens to the shares of the company? What is the effect on stockholders?
Thank you
Asked on 5/23/11, 7:13 am
2 Answer from Attorneys
Michael Stone
Law Offices of Michael B. Stone Toll Free 1-855-USE-MIKE
As I think you know, and as I've already told you, in nearly every chapter 11 the shareholders are last in line for any distribution of assets and they are usually wiped-out.
Answered on 5/23/11, 7:42 am
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