Bankrupt: no. You dont get to jump in a backdoor or anything. The company gets wound up by a liquidator and you have no company any more.
Even if we didn't get wound up, we are not a back-door listing target. For a back-door listing, you want clean, empty companies. Companies carry their past liabilities and a company can be sued for actions of previous directors, etc., so a company with a history of being sued by ASIC is not one you'd consider.
Even then, backdoor listing sounds fun, but its not like you get a front row ticket to another company. Usually in a backdoor listing, old shareholders get consolidated into a tiny fraction of the company. Might do a 1-for-100 or 1000 consolidation and then issue millns of new shares. Youd end up with cents worth of holding.
SP1 Price at posting:
$1.07 Sentiment: Sell Disclosure: Held
