I have had some experience dealing with a company in BK. The company was the old Sunbeam (SON) and I bought the shares for about 16 cents (while in BK) with the hope that warrants, a possibility, would be issued to the shareholders of record when the stock was cancelled. I sold half of my shares when a rumor caused the stock to pop to near 30 cents and actually only lost something like fifteen dollars in the end. The point is it traded (I believe on the pink sheets) for a long time until the BK was done and the shares were ultimately cancelled. Subeam was restructured as American Household and later sold to Jarden (JAH). My remaining shares became worthless and had to pay $5 to have them removed from my account. I ponder buying some Jarden every now and then.