The way the Syndicate Trust was paid will probably come out in the CDFT wash. The likely routes are either Common which were dumped prior to the R/S or Preferred which were entered into early and will be dumped early.
What seems clear is that the Syndicate Trust tapped a number of marginally profitable or loss making companies in order to offer their CEO's a shot at running their companies from higher Exchanges.
I've never seen a dividend paid where some members of one class of shareholder were treated differently than others. That's aside from the lack of a prospectus for the Preferred. Many issues to overcome, but ANDI is dead until the R/S takes effect.