Based on what it states, after the Piers are paid the debentures held by the Property Trustee, Wells Fargo, has to be paid all principle and interest due before shareholders of WM are paid.
What makes you believe that the WMCT 2001 has that amount of cash left???
25.2 Cancellation of Common Equity Interests:.., on the Effective Date, ALL Common Equity Interests shall be deemed extinguished and the certificates and ALL other documents shall be deemed cancelled.