Bankruptcy stock question
Hey all,
I have searched through the forums and internet and can't quite find an answer. One of my non-airline stocks recently entered bankruptcy and I'm wondering if anyone has held stock in a company that emerged from bankruptcy (Delta, Northwest, United, U.S. Airways, etc.). Did you have the ability to convert old shares into new ones or receive any payment whatsoever? Everything I've read/ heard indicates total loss when shares are voided.
Thanks in advance