Company had a negative net worth for a long time. But the stock didn't go to zero because 90% was owned by institutional investors and the rest by employees who don't know how to read a financial statement. The net value of the company was funded by debt. Unsecured creditors and shareholders have no rights and even less brains. If you gave new stock to them, you'd have to dilute the secured lenders down. Only if there were something left over after the secured lenders were made whole, the unsecured lenders would get the crumbs. If the unsecured lenders were made whole, the stockholders might get something, but then MDR probably wouldn't be in bankruptcy in the first place.
Honestly, after everything you should have seen or heard, on this site, in the Q/K, in the financial press, I have zero sympathy for people who had any stock in this company. Even employees with LTIPs should have quit or expected it to be just monopoly money
Now that your shares are cancelled, your chance to force a change in corporate governance is gone. But watch how the board & management spin this to the new shareholders .... like they saved the day. Just like WFT did before investors finally woke up. You disgust me.