As a going concern (hopefully) LBHI is not obligated to liquidate Cts until maturity date. LBHI have the option to liquidate in any time they choose but the chance will be very small because they will need to preserve its money in order to operate.
They will rather generate and sell new Cts and Preferred plus common shares in IPO to produce more capital.
LBHI OBLIGATION IS TO PAY ALL ACCUMULATED INTEREST TO GET OUT OF DEFAULT AND OPERATE AS A GOING CONCERN.