Charter communications has emerged from bankruptcy, so what does that mean for the current stock holders?

My friend invested in charter communications about a month ago, and they have just emerged from chapter 11 bankruptcy. What does this mean for my friend?|||http://finance.yahoo.com/news/Charter-Co鈥?/a>





I don't think it means anything for your "friend", if the shares he has are in the "pre-bankruptcy" company, that company does not exist any more so they are worthless. If he bought shares of CHRTQ.PK on the Pink sheets, each share he paid 3c or 4c for is now worth the princely sum of 2c.|||Chapter 11 bankruptcy is used by businesses, not citizens, to reorganize debts.





The main advantage of this type of bankruptcy is that it allows the debtor to keep possession of the company. However, the strict requirements of the bankrupty process must be followed! Motions regarding such issues as employee payment and cash collateral should be made by the bankrupty courts.





The debtor has 120 days in which to propose a plan or reorganization to the bankruptcy court. Because this kind of bankruptcy is so complicated, a bankruptcy attorney should be consulted first.|||Buying stock in bankrupt companies thinking you're going to make money means your friend ain't too bright, I hope he didn't have too much invested in it,





""The new Charter will apply for listing on the Nasdaq in 45 days or longer. Existing common stock in Charter has been canceled.""