If a company had already been approved of chapter 11 bankruptcy protection, the stock they have on hand is it the "emerging" stock?

Question

Say a company has only a few cents on the stock price after chapter 11 bankruptcy protection, since it is after the bp, it is the emerging stock and not "worthless" so to speak of unless the company actually files for bankruptcy?

Update:

For those unhelpful, 

Answer 1

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Chapter 11 bankruptcy protection means filing for bankruptcy.

No such thing as "stock they have on hand".

The question is what occurs in emerging from bankruptcy.

Common stock holders are generally last in line.

In most cases, the old common shares become worthless.

Answer 2

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Answer 3

You have no idea what you are talking about. Its scary how clueless you are.