(Bloomberg) — Hertz Global Holdings Inc. warned prospective new stock investors they’re all but certain to be wiped out as the car renter proceeds with an improbable share sale in the midst of bankruptcy proceedings.Equity holders will not see a recovery from any bankruptcy plan unless those with more senior claims, including bondholders, are paid in full, Hertz said in a prospectus Monday. That would require “a significant and rapid and currently unanticipated improvement in business conditions,” the company said.Hertz shares traded down as much as 25% shortly after the start of regular trading, though the stock is still well …read more
Source:: Yahoo Finance
