It is up to the Board of Directors of NMGL if MAY sell them.
Let´s revisit the August 12, 2010 8-K of FFGO:
Section 3 North American controls your shares, you do not! You have no say or rights what so ever in the company
Let us look at Series A Preferred Stock, as the "Bouse Liquidation Payments":
Section 4: Your stock has NO VOTING rights!
Section 5: On or After January 1, 2011 it is up to the Board of Directors if you may sell your shares in North American.