In a settlement I would assume that anything legal may be an option. I do not; however, believe they (JPMC) will "make" WAMPQs convert to Common; however, it may be an agreed decision to do so if it benefits us or is deemed acceptable.
Dividends for the WAMPQs are in question on this board. PQs are NOT cumulative and are not "accumulating" while we wait. (see link below) I believe that suspended divvy payments for this timeframe will be paid by JPMC/FDIC as a result of their heinous actions against WMI. Point is....converting to commons for whatever reason shouldn't affect the divvy payouts because they are not being paid anyway.