I'm interested in Bidding for shares of Kodak at 3 cents
Yes this is crazy because the shares are worthless and cancelled. However, my clearing broker would like my fund to close out its short position. If I could actually work out a transaction, I would pay the closing price of 3 cents for 200k shares. Must be in one block and must be long the stock.
Listen, my post is completely honest. If the transaction is not possible, it will not be consummated. However, this is how my clearing broker presently thinks the position should be closed. Perhaps tomorrow they revise their thinking.
Your clearing broker might want to check his malpractice insurance as if he's telling you to spend $6,000 to zero out a position that is in a cancelled stock then he's quite incompetent. You can save $6,000 as ekdkq can never trade again as the issue is cancelled and unless kodak finds extra billions then the creditors would be first in line however once the deal is agreed then even if Kodak found $5 billion in their basement it would be an asset of the new company along with the new shares as they have exited BK.
By chance if you are really intent on throwing $6,000 away then please throw it to me but either way fire your broker if all his advice is similar to his EKDKQ advice.