Short Sellers will own nothing,nil/zero.

When you short sell, you actually borrow the shares which in turn sell them in the stock market..If you want to relinquish your shares, you got to buy back the same number of shares to repay the person/brokerage whom you borrowed from. If you got back the shares at a much lower price which you first sold it, you will receive the difference, selling short is a method to profit from a stock that the price is falling. So what happen if the company is delisted or go bankrupt? It means that you don't have to pay back anyone because the shares are already not worth the value, or worthless..

Hope it clarifies or alternatively, check with your broker for a clearer picture on this.

Star-Trader