W2007 Grace Acquisition I, Inc. (fka WGCBP)

[Madmartigan]

Very simply though, Enterprising Investor's point about it only mattering to the flow of COMMON equity to various entities feels spot on. Remember, per the charter NO common equity may be distributed to ANY downstream entities unless and until all prefs are brought current. So, at the very least, these should theoretically become current paying securities.