When Delta Airlines emerges from Chapter 11 does the stock purchased during the reorganization process become worthless or roll into the new company shares?

Delta Air Lines Inc. shares will probably be canceled as part of the company's bankruptcy, just like shares left by United Airlines parent UAL Corp. and US Airways Group Inc during their Chapter 11 reorganizations. "We're not expecting the stock to survive the reorganization process," Delta Chief Financial Officer Edward Bastian said during a break in hearings on the company's dispute with its pilots union. Delta warned investors in November of 2006 that the shares might be wiped out and urged caution in buying them.