Yes it will. The theory that Preferred (Pq, Kq + Reits) will be paid face and possibly all dividends since 2008 and Commons get the rest does not hold water.
If you read from pg 59 of the POR where Treatment of Preferred and Commons is discussed you will see ALL old stock along with ALL their documents were cancelled.
This was done to allow Commons to be paid simultaneously with Preferred even though they were subordinate to all other stock.
We were reissued Preferred and Common Equity Interests which now represent our ownership of the WMI estate and follows the POR's designation of 75%/25%.
All the former rights of old WMI Preferred and Common stock cedes authority to the rights of our new Equity Interests as stated in the POR.
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