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To: Paul Lee who wrote (14098)10/1/2001 10:33:33 AM
From: M. Charles Swope  Respond to of 15615
 
"Shareholders are not wiped out in bankruptcy. They keep their shares and their equity ownership."

This is largely untrue. Most bankruptcies result in common shareholders being wiped out. It is quite common to see creditors swap debt for equity and they come out owning what's left of the company.