sadly you cannot sell... present US Bankruptcy deal could result...

sadly you cannot sell... present US Bankruptcy deal could result in one of three things...

1 - creditors get issued shares to satisfy debt (this would be stupendously dilutive),
2 - creditors vote to liquidate - this stock is unlikely to hit the ASX again - could be years before it gets wound up before we can all claim as a capital loss
3 - interim managers come back to shareholders and ask for (at least) 350-400 million in capital to reduce debt to a fraction of equity issued (can't see this happening)

Classic case of rear view mirror stuff here - CEO and board used too much debt to buy overpriced assets, failed to integrate the assets sufficiently and got caught in a downturn of industry... savage result for us shareholders...