I once owned a stock that was a break off from southern energy. when they filed bankruptcy they stated the common would be still good after it was over.My wife wanted to hold on and I said no. I had lost out a couple times before . well we sold it and when they came out of bankruptcy the stock was 15.00 and we lost out. the company had assets worth much more and was not subject to the bankruptcy . it came back on the market at $15.00 a share. go figure.