Will DAL stock be worth anything after bankruptcy?

[LaramieJC]

My father worked for Delta until last year when he took early retirement. He sold his stock soon after, but my mom (who received about 700 shares when my parents divorced) has stubbornly held onto her stock all the way to the end. I told her repeatedly to sell it on the way down but now that the airline is in bankruptcy I was wondering if the stock will be worth anything if the carrier emerges from bankruptcy sometime in the future. I have heard that if this happens the airline will re-issue stock and all old stock will be null and void. Is this true?

Thanks,

JC