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Author: foo1bar Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 125003  
Subject: Re: bankrupt companies & statute of limitation? Date: 4/5/2012 8:17 PM
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Many brokers have a procedure for handling worthless securities. Basically, the broker "buys" the security for a nominal amount and charges an equivalent brokerage fee. Check with your broker.

If they're truly worthless, you don't need the broker to buy them. They're considered "sold" at that point (well Dec. 31 of that year) for $0.

But for effectively worthless stocks, that's very good advice.
In this case the NRTLQ trading for ~$.02/share can probably be sold for $0 in proceeds.

I definitely agree the advice to check with the broker.

I had a bankrupt company that was effectively worthless for a LONG time - I think I would have been better to sold it all for $1 to the brokerage even if I had to pay $7 trading fee to do it.
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