"...we will get a return (usually a cheque) for our shares and our shares in the registry goes to 0."
1. How do you know? No fact but guess work!
2. How much would you get?
2% of your capital as the outcome of the first DOCA? Is it exciting for you?
3. Where does the money come from?
Asset sale? If it is it should be sale on fire.
If you can get good enough of your capital back or more, the liquidation must be stopped first. Under the liquidation, the asset is used to protect the debt money from the secured creditors first, no-secured creditors second, and then residual from the burning to the shareholders, big or little or creditors as shareholders.
The liquidators have one task to act as the pawn as you said. What's a pawn? He fights for his king or queen. Who is the king? Not the shareholders but the secured creditors. It is impossible the liquidators would try their best to make money for these crappy shareholders.
Does the king work for you? Definitely not. No one works for you and you could not do anything better for you, right? So if you get a check, it should be little for your crying in the night!
MBN Price at posting:
8.3¢ Sentiment: Hold Disclosure: Held
