A company of which I am a shareholder entered into chapter 11 bankruptcy.
It’s an odd situation as this is looking more and more like they are the rare 10% that will actually emerge from it.
I have received a letter from my broker on behalf of stretto regarding the filing of a proof of claim. I thought this would be for creditors rather than equity holders.
Online it says equity holders can file a “proof of interest” but I cannot find a way to do this only to file for “proof of claim” as per the letter.
Proof of claim doesn’t really make sense at all to me, what would I claim? The dollar value I paid for the shares? The value of the shares as of the date of bankruptcy filing?
My main focus is to make sure that in the event the company finds a way to continue either with its existing shareholder structure or a new one that I am able to retain my fair shareholding as per the agreements they make.
Thank you in advance for any advice you might have.
Leave a Reply