Bankruptcy will be part of restructuring, IMO and that's the good news.
Existing shareholders will be essentially wiped out, existing shares will be worth maybe .05- .10 at the top end. A new class of stock will be issued to creditors in lieu of debt- they will own 90%of the new company, existing owners will get nominal stake. Bad news is the company has so many litigation issues none of this can really move forward. It's a bad situation, could end up everything going to auction and the EXIDE name being sold for it's trademark value, which isn't much. People really don't care if some 40 pound battery in the engine compartment says Interstate or Die Hard or Yuasa or Exide as long as it starts.No one who understands the checkmate here is going to buy or hold the stock. I read some guy on Seeking Alpha buying the stock at 1.44 a couple weeks ago for his "managed accounts" and touting it for a rebound. Get a real job dude.