You needn't imagine it, you will witness it soon.
There's no legal challenge beyond those already in the offing, shareholders will be wiped out and banks will take a haircut. Limited liability and all that, no point trying to litigate blood from a stone.
There's always a few people who can't believe what has happened and will buy worthless stock, then there are a handful of mad punters and day traders.
SGH Price at posting:
8.8¢ Sentiment: Sell Disclosure: Not Held