Of course if some overseas preditor swoops on GNS than the would probably have to pay out $100 face value.
FIIG thought it likely they will be redeemed at face value within two years. But now if GNS review all their financials as part of the restructuring then halting distributions may look attractive.
There is a real possibility of more downside to come. So much as I hate to take a loss I have now sold the remainder of my holding of GNSPA.
GNS Price at posting:
65.0¢ Sentiment: ST Sell Disclosure: Not Held