Bought midway stock 9/10 than 9/11 they went bankrupt my check was in the mail who would have got my money?

Question

My check was in the mail on 9/11 when they went bankrupt and all banks were closed down, so I never found out who cashed my check and if I still had to purchase stocks that were no longer there because of the bankruptcy.

Answer 1

When you buy a stock your check is cashed by your broker who sends the money to whoever sold the stock.

You should also know that stock does not cease to exist just because a company goes bankrupt. As a matter of fact, if you bought the stock on 9/10/01 the company was already bankrupt at that time. The company had abruptly filed for Chapter 11 bankruptcy on the evening of August 13, 2001.

Answer 2

If your transaction date was indeed 9-10 then you were obligated to make payment for what you bought. Your check should have been cashed by your broker and showed up on your checking account statement. You should also have received a confirmation from the broker. The settle date, when your payment was due, would have been three business days later. If your check was not cashed you got lucky - so far. Your broker may have decided to hold it uncashed pending any questions from the bankruptcy court.