Companies occasionally own some of their own stock. A company owning its own stock is actually pretty weird when you think about it. If I own 1% of a business's stock (and therefore own 1% of the business's assets), and the company owns 50% of its own stock, I as a stockholder of the business, indirectly control 0.5% of the business. Through the 0.5%, I own 0.25%. Through the 0.25%, I own 0.125%, and ad infinitum. This adds up to 2% (which makes sense, since if I own 1% out of 50% of the stock, I would own 2% of the business.)
What happens though if a company controls all of its stock. This would mean that the company owns itself. In particular, it isn't really owned by any individuals anymore. The purpose of a public company is to create value for its shareholders, but what does that mean if it owns itself?
Practically, how would this affect things like voting and bankruptcy?