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  <TITLE> Global Preferred Holdings, Inc. (Form: 8-K) </TITLE>
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  		UNITED STATES<BR>
  	SECURITIES AND EXCHANGE COMMISSION
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  	WASHINGTON, D.C. 20549
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  	FORM 8-K
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  	CURRENT REPORT
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  	Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934
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  	Date of Report (Date of Earliest Event Reported):
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  	&nbsp;
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  	July 18, 2006
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  	Global Preferred Holdings, Inc.
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  <BR>__________________________________________<BR>
  	(Exact name of registrant as specified in its charter)
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  	Delaware
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  	0-23637
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  	58-2179041
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  _____________________<BR>
  	(State or other jurisdiction
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  _____________<BR>
  	(Commission
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  ______________<BR>
  	(I.R.S. Employer
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  	of incorporation)
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  	File Number)
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  	Identification No.)
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  	&nbsp;&nbsp;
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  	c/o Morris Manning & Martin LLP, 3343 Peachtree Road, Suite 1600, Atlanta, Georgia
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  	30326
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  _________________________________<BR>
  	(Address of principal executive offices)
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  	&nbsp;
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  ___________<BR>
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  	Registrant&#146;s telephone number, including area code:
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  	770-248-3311
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  	Not Applicable
  <BR>______________________________________________<BR>
  	Former name or former address, if changed since last report
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  	&nbsp;
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  <!-- CoverPageRegistrant END --><P><FONT SIZE="2">
  Check the appropriate box below if the Form 8-K filing is intended to
  simultaneously satisfy the filing obligation of the registrant under any
  of the following provisions:</FONT>
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  <P><FONT SIZE="2">
  [&nbsp;&nbsp;]&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<br>
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  <B>
  	Item 8.01 Other Events.
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  On July 18, 2006, the Securities and Exchange Commission ("SEC") granted Global Preferred Holdings, Inc.'s ("Global Preferred") request for a "no-action letter" with respect to reducing Global Preferred's reporting obligations under the Securities and Exchange Act of 1934, as amended.  As outlined in the request, Global Preferred intends to cease filing Forms 10-Q and 10-K, commencing with the Form 10-Q for the quarter ended June 30, 2006. The letter included, however, an undertaking by Global Preferred to continue to file reports on Form 8-K to disclose material events relating to its winding up and dissolution.  Global Preferred is reducing its SEC filings in order to further reduce its operating expenses and overhead as it continues the process of winding up and dissolving.  Copies of the no-action request and response are furnished as Exhibits 99.1 and 99.2 to this report on Form 8-K.<br><br>On July 24, 2006, Global Preferred mailed to its stockholders its First Quarter 2006 Letter to Stockholders (the "Letter to Stockholders").  The Letter to Stockholders contained updated information regarding the dissolution and liquidation of Global Preferred.  A copy of the Letter to Stockholders is furnished as Exhibit 99.3 to this report on Form 8-K.<br><br>Additionally, as previously reported in the Quarterly Report on Form 10-Q for the quarter ended March 31, 2006, Global Preferred, together with several stockholders and other entities associated, or formerly associated, with World Marketing Alliance, Inc., ("WMA"), received a demand for arbitration from a former agent of WMA on May 4, 2006.  Subsequently, the individual also filed suit in the Superior Court of Gwinnett County, Georgia, seeking to compel arbitration of the claims described in the demand for arbitration.  Global Preferred does not believe that the individual has any claims against Global Preferred, nor does Global Preferred believe that it is required to submit to the arbitration. Global Preferred has not received sufficient information to determine the exact nature, if any, of any potential claims against Global Preferred in the matter, but currently does not believe that the demand or the lawsuit will result in liabilities that would have a material adverse effect on the winding up and dissolution of Global Preferred.<br>
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  	Item 9.01 Financial Statements and Exhibits.
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  (c)	Exhibits.
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  	SIGNATURES
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  	Pursuant to the requirements of the Securities Exchange Act of 1934, the
  	registrant has duly caused this report to be signed on its behalf by the
  	undersigned hereunto duly authorized.
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  	Global Preferred Holdings, Inc.
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  	&nbsp;&nbsp;
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  <I>
  	July 24, 2006
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  	By:
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  <I>
  	/s/ Caryl P. Shepherd
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  <I>
  	Name: Caryl P. Shepherd
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  	Title: Chief Accounting Officer
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  	Exhibit&nbsp;Index
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  	Exhibit No.
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  	Description
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  	99.1
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  	&nbsp;
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  No-Action Request Letter to the Securities and Exchange Commission dated July 12, 2006
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  	99.2
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  	&nbsp;
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  Response of the Office of Chief Counsel dated July 18, 2006
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  	99.3
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  	&nbsp;
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  First Quarter 2006 Letter to Stockholders
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metadata_documents: [{"type": "8-K", "sequence": "1", "filename": "htm_13825.htm", "description": "LIVE FILING", "secsgml_size_bytes": 12664}]
metadata_filer: {"company-data": {"conformed-name": "GLOBAL PREFERRED HOLDINGS INC", "cik": "0000947716", "assigned-sic": "6311", "irs-number": "582179041", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-23637", "film-number": "06975903"}, "business-address": {"street1": "P.O. BOX 1561", "city": "SUWANEE", "state": "GA", "zip": "30024", "phone": "7702483311"}, "mail-address": {"street1": "P.O. BOX 1561", "city": "SUWANEE", "state": "GA", "zip": "30024"}, "former-company": [{"former-conformed-name": "WMA CORP", "date-changed": "19980519"}, {"former-conformed-name": "WMA INTERNATIONAL CORP", "date-changed": "19950707"}]}
text: Global Preferred Holdings, Inc. (Form: 8-K)
  UNITED STATES
  SECURITIES AND EXCHANGE COMMISSION
  WASHINGTON, D.C. 20549
  FORM 8-K
  CURRENT REPORT
  Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
  Date of Report (Date of Earliest Event Reported):
  July 18, 2006
  Global Preferred Holdings, Inc.
  __________________________________________
  (Exact name of registrant as specified in its charter)
  Delaware
  0-23637
  58-2179041
  _____________________
  (State or other jurisdiction
  _____________
  (Commission
  ______________
  (I.R.S. Employer
  of incorporation)
  File Number)
  Identification No.)
  c/o Morris Manning & Martin LLP, 3343 Peachtree Road, Suite 1600, Atlanta, Georgia
  30326
  _________________________________
  (Address of principal executive offices)
  ___________
  (Zip Code)
  Registrant's telephone number, including area code:
  770-248-3311
  Not Applicable
  ______________________________________________
  Former name or former address, if changed since last report
  Check the appropriate box below if the Form 8-K filing is intended to
  simultaneously satisfy the filing obligation of the registrant under any
  of the following provisions:
  [  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
  [  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
  [  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
  [  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
  Top of the Form
  Item 8.01 Other Events.
  On July 18, 2006, the Securities and Exchange Commission ("SEC") granted Global Preferred Holdings, Inc.'s ("Global Preferred") request for a "no-action letter" with respect to reducing Global Preferred's reporting obligations under the Securities and Exchange Act of 1934, as amended.  As outlined in the request, Global Preferred intends to cease filing Forms 10-Q and 10-K, commencing with the Form 10-Q for the quarter ended June 30, 2006. The letter included, however, an undertaking by Global Preferred to continue to file reports on Form 8-K to disclose material events relating to its winding up and dissolution.  Global Preferred is reducing its SEC filings in order to further reduce its operating expenses and overhead as it continues the process of winding up and dissolving.  Copies of the no-action request and response are furnished as Exhibits 99.1 and 99.2 to this report on Form 8-K.
  On July 24, 2006, Global Preferred mailed to its stockholders its First Quarter 2006 Letter to Stockholders (the "Letter to Stockholders").  The Letter to Stockholders contained updated information regarding the dissolution and liquidation of Global Preferred.  A copy of the Letter to Stockholders is furnished as Exhibit 99.3 to this report on Form 8-K.
  Additionally, as previously reported in the Quarterly Report on Form 10-Q for the quarter ended March 31, 2006, Global Preferred, together with several stockholders and other entities associated, or formerly associated, with World Marketing Alliance, Inc., ("WMA"), received a demand for arbitration from a former agent of WMA on May 4, 2006.  Subsequently, the individual also filed suit in the Superior Court of Gwinnett County, Georgia, seeking to compel arbitration of the claims described in the demand for arbitration.  Global Preferred does not believe that the individual has any claims against Global Preferred, nor does Global Preferred believe that it is required to submit to the arbitration. Global Preferred has not received sufficient information to determine the exact nature, if any, of any potential claims against Global Preferred in the matter, but currently does not believe that the demand or the lawsuit will result in liabilities that would have a material adverse effect on the winding up and dissolution of Global Preferred.
  Item 9.01 Financial Statements and Exhibits.
  (c)	Exhibits.
  Top of the Form
  SIGNATURES
  Pursuant to the requirements of the Securities Exchange Act of 1934, the
  	registrant has duly caused this report to be signed on its behalf by the
  	undersigned hereunto duly authorized.
  Global Preferred Holdings, Inc.
  July 24, 2006
  By:
  /s/ Caryl P. Shepherd
  Name: Caryl P. Shepherd
  Title: Chief Accounting Officer
  Top of the Form
  Exhibit Index
  Exhibit No.
  Description
  99.1
  No-Action Request Letter to the Securities and Exchange Commission dated July 12, 2006
  99.2
  Response of the Office of Chief Counsel dated July 18, 2006
  99.3
  First Quarter 2006 Letter to Stockholders