~~Securities~~ UNITED ~~And~~STATES SECURITIES ~~Exchange~~AND ~~Commission~~EXCHANGE COMMISSION WASHINGTON, D.C. 20549

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT ~~PURSUANT TO SECTION 13 OR 15(D) OF THE~~ ~~SECURITIES EXCHANGE ACT OF 1934~~

~~Date~~ Pursuant ofto ~~Report~~Section 13 or 15(~~Date~~d) of ~~earliest~~the ~~event~~Securities ~~reported)~~Exchange ~~June 14,~~Act ~~2005~~of 1934

~~Global~~Date ~~Preferred~~of ~~Holdings,~~Report ~~Inc.~~ (~~Exact~~Date ~~Name~~ of ~~Registrant~~Earliest asEvent ~~Specified~~Reported): inJune ~~Charter)~~ 10, 2005

Delaware	0-23637	58-2179041
(State or other jurisdiction	(Commission File Number)	(I.R.S. Employer
of incorporation)		Identification No.)

Global Preferred Holdings, Inc.
__________________________________________
(Exact name of registrant as specified in its charter)

6455 East Johns Crossing Suite 402 Duluth, GA 30097 (Address of principal executive offices)


Delaware	0-23637	58-2179041
_____________________ (State or other jurisdiction	_____________ (Commission	______________ (I.R.S. Employer
of incorporation)	File Number)	Identification No.)

6455 East Johns Crossing, Suite 402, Duluth, Georgia		30097
_________________________________ (Address of principal executive offices)		___________ (Zip Code)

~~(770) 248-3311 (~~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:

o [ ] 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))

~~o Soliciting~~ Top ~~material~~of ~~pursuant to Rule 14a-12 under~~ the ~~Exchange Act (17 CFR 240.14a-12)~~Form

~~o Pre-commencement~~ Item ~~communications~~5.02 ~~pursuant~~Departure toof ~~Rule 14d-2(b)~~Directors ~~under~~or ~~the~~Principal ~~Exchange~~Officers; ~~Act~~Election ~~(17~~of ~~CFR~~Directors; ~~240~~Appointment of Principal Officers.~~14d-2(b))~~

~~o Pre-commencement~~ (a) ~~communications~~Not ~~pursuant~~applicable. to(b) ~~Rule 13e-4~~On June 10, 2005, Edward F. McKernan, President, Chief Executive Officer and a director of Global Preferred Holdings, Inc., was replaced as the Registrant’s principal executive officer by Caryl P. Shepherd (see Item 5.02(c) ~~under~~below). Also on June 10, 2005, Bradley E. Barks, Global Preferred’s Chief Financial Officer, was replaced as the ~~Exchange~~Registrant’s ~~Act~~principal financial officer by Ms. Shepherd (17see ~~CFR~~Item ~~240~~5.~~13e-4~~02(c) below). (c) On June 10, 2005, Caryl P. Shepherd, who serves as Global Preferred’s Chief Accounting Officer, was appointed as the principal executive officer and principal financial officer for the Registrant, replacing Mr. McKernan and Mr. Barks. To the extent required by Item 5.02 of Form 8-K, Global Preferred’s 2004 Annual Report on Form 10-K filed March 31, 2005 is incorporated herein by reference. There are no family relationships between Ms. Shepherd and any of the Registrant’s directors and executive officers. There are no transactions between Ms. Shepherd and the Registrant in which Ms. Shepherd has a direct or indirect material interest, which the Registrant is required to report.

~~ITEM~~ Top ~~8.01~~of ~~OTHER~~the ~~EVENTS~~Form

~~On June 14, 2005 Global Preferred Holdings, Inc. (“Global Preferred”) mailed its First Quarter 2005~~ ~~Quarterly Stockholder’s Report to stockholders. The First Quarter 2005 Quarterly Stockholder’s~~ ~~Report contained updated information regarding the sale of Global Preferred Re Limited and the~~ ~~dissolution and liquidation of Global Preferred. A copy of the First Quarter 2005 Quarterly~~ SIGNATURES ~~Stockholder’s Report is furnished as Exhibit 99.1 to this report on Form 8-K.~~

~~ITEM~~ Pursuant ~~9.01~~to ~~FINANCIAL~~the ~~STATEMENTS~~requirements ~~AND~~of ~~EXHIBITS~~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.

June 16, 2005	By:	/s/ Caryl P. Shepherd

		Name: Caryl P. Shepherd
		Title: Chief Accounting Officer

	Exhibit No.		Description
	99.1		First Quarter 2005 Quarterly Stockholder’s Report

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.

Date: June 15, 2005	Global Preferred Holdings, Inc.
	By:	/s/ Bradley E. Barks
		Bradley E. Barks
		Chief Financial Officer

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