In reading some recent news it doesn't sound real good. I would sell immediately. Looks like the bankruptcy court may approve the latest proposal, but the commentary said that common unit holders (not sure what you are) will receive no recovery AND have some significant income recognition from cancellation of debt.
Good luck in getting out of this.
*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.
