Stocks cannot meet criteria of a technical definition of a liability asset I believe like you say. But who wants to buy $0 stock as an &quot;investor&quot; if there&#x27;s basically no way it&#x27;ll recover? Is it for the same reason that people would buy Zimbabwe currency? Then the value of the stock is in comedy perhaps. People trade penny stocks, granted, but that kind of market behaves really differently from publicly traded companies we talk about usually.<p>And to be a bit snarky, if the board of directors robbed said nation, they would have some assets now worth something in possession even if they&#x27;re acquired illegally :) Heck, what would the valuation of the Third Reich be at the end of WWII if it was a corporation?