Wothless stock? Federal Mogul specifically/warrants in general

[LCP]

Federal Mogul emerged from bancruptcy in 12/07.

All stock was cancelled. Some time in 2008, OldCo shareholders are to receive warrants allowing them to purchase NewCo shares.

Any ideas?

[FEDUKE404]

Stock apparently has value?

I'm not quite sure I understand the question, but here goes:

If the stock "emerged from bankruptcy" and the prior owners did/will receive warrants to purchase the reorganized company, then the stock was never "worthless," which is a requirement to deduct a 12/31/xxxx loss without sale.

It appears the stock and warrants are now available for trading (pink sheets?) with symbols FEMO.PK (last trade $20.00) and FEMOW.PK (last trade $3.75).

Hope this helps..........

FE