"In the short run, the market is a voting machine, but in the...

"In the short run, the market is a voting machine, but in the long run it is a weighing machine." That was said by a little known investor named Ben Graham who loved buying companies below liquidation value.

I remember buying BEPPA at 5c and getting 40c in the restructure while ordinary BBI holders got 4c back. That security had more rights attached but still same principal applies: in distressed debt plays always go higher up in the capital structure

Time will tell how this one works out