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CITADEL'S OLD STOCK....HOW MANY LOST LARGE $$$ ON THIS?

T

THE LOUDS

Guest
HOW CAN CITADEL CANCEL ALL THEIR STOCK....NOW WORTHLESS....START AGAIN...AND NOT RE-ISSUE THE NEW STOCK IN ITS PLACE??? KNOW THEY FILED FOR B/K....BUT THEY ARE SOO HEALTHY... THE S.E.C. SHOULD BE ON THEM FOR THAT. THE STOCK SHOULD BE AT LEAST A 1 FOR 3 DEAL.... ???
 
THE LOUDS said:
HOW CAN CITADEL CANCEL ALL THEIR STOCK....NOW WORTHLESS....START AGAIN...AND NOT RE-ISSUE THE NEW STOCK IN ITS PLACE??? KNOW THEY FILED FOR B/K....BUT THEY ARE SOO HEALTHY... THE S.E.C. SHOULD BE ON THEM FOR THAT. THE STOCK SHOULD BE AT LEAST A 1 FOR 3 DEAL.... ???
Click to expand...

This is oversimplification, but the shareholders (the owners) ar the last to get paid in a bankruptcy. First are the government obligations and secured crediters, etc. In a non-liquidation bankruptcy, often the secured creditors become the new owners,

It's just like the equity you might have had in a house being wiped out , followed by a forclosure. In that case, you did not have enough present income to pay the creditors, and you lost the property to them.
 
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