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Old 04-03-2003, 06:29 PM
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corporate bankruptcy

What is the name of your state? MI The company I work for Federal Mogul, is going bankrupt. They are restructuring and all our common stock is being taken away and split up with debtors and asbestost claimants. Is this legal and can anything be done about it? Tony
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Old 04-07-2003, 01:20 AM
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Yep, it happens all the time....take a look at United Airlines...the stockholders will be left holding the bag while secured creditors are awarded the stock in the company if it ever emerges from BK
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