DataBinding errors with interfaces

Binding#FormatObject.cs

...

private object FormatObject(object value)
{
  if (this.ControlAtDesignTime())
    return value;
  System.Type propertyType = this.propInfo.PropertyType;
  if (this.formattingEnabled)
  {
    ConvertEventArgs cevent = new ConvertEventArgs(value, propertyType);
    this.OnFormat(cevent);
    if (cevent.Value != value)
      return cevent.Value;
    TypeConverter sourceConverter = (TypeConverter) null;
    if (this.bindToObject.FieldInfo != null)
      sourceConverter = this.bindToObject.FieldInfo.Converter;
    return Formatter.FormatObject(value, propertyType, sourceConverter, this.propInfoConverter, this.formatString, this.formatInfo, this.nullValue, this.dsNullValue);
  }
  else
  {
    ConvertEventArgs cevent = new ConvertEventArgs(value, propertyType);
    this.OnFormat(cevent);
    object obj1 = cevent.Value;
    if (propertyType == typeof (object))
      return value;
    if (obj1 != null && (obj1.GetType().IsSubclassOf(propertyType) || obj1.GetType() == propertyType))
      return obj1;
    TypeConverter converter = TypeDescriptor.GetConverter(value != null ? value.GetType() : typeof (object));
    if (converter != null && converter.CanConvertTo(propertyType))
      return converter.ConvertTo(value, propertyType);
    if (value is IConvertible)
    {
      object obj2 = Convert.ChangeType(value, propertyType, (IFormatProvider) CultureInfo.CurrentCulture);
      if (obj2 != null && (obj2.GetType().IsSubclassOf(propertyType) || obj2.GetType() == propertyType))
        return obj2;
    }
    throw new FormatException(System.Windows.Forms.SR.GetString("ListBindingFormatFailed"));
  }
}
...

databinding.linq

/*
 to use with LINQPad : http://www.linqpad.net
 add reference to the following:
 System.Windows.Forms
 System.ComponentModel
 System.Globalization
 System.Windows.Forms
*/



void Main()
{
  MyForm viewBase = new MyForm { Text = "Base" }, viewDerived = new MyForm { Text = "Derived" };
  var viewModel = new MyViewModel();

  viewBase.DataBindings.Add("Base", viewModel, "Base", false, DataSourceUpdateMode.OnPropertyChanged);
  viewDerived.DataBindings.Add("Derived", viewModel, "Derived", false, DataSourceUpdateMode.OnPropertyChanged);

  viewBase.Show();
  viewDerived.Show();
}

// Define other methods and classes here
interface IBase {
  string BaseMethod();
}
interface IDerived : IBase {
  string DerivedMethod();
}

class Base: IBase {
  public string BaseMethod() {return "BaseMethod"; }
}
[TypeConverter(typeof(DerivedConverter))]
class Derived : Base, IDerived {
  public string DerivedMethod(){return "DerivedMethod"; }
}

class DerivedConverter : TypeConverter {
  private readonly Type typeD = typeof(Derived);
  public override bool CanConvertTo(ITypeDescriptorContext context, Type destinationType) {
    if (destinationType.IsAssignableFrom(typeD)) return true;
    return base.CanConvertFrom(context, destinationType);
   }
   
  public override object ConvertTo(ITypeDescriptorContext context, CultureInfo culture, 
                   object value, Type destinationType) {  
    if (destinationType.IsAssignableFrom(typeD)) return value;
    return base.ConvertTo(context, culture, value, destinationType);
  }
}


class MyForm : Form {
  public IBase Base { get; set; }
  public IDerived Derived { get ; set; }
  protected override void OnLoad(EventArgs e) {
    (Base == null ? "Base is null" : Base.BaseMethod()).Dump("MyForm." + this.Text);
    (Derived == null ? "Derived is null" : Derived.DerivedMethod()).Dump("MyForm." + this.Text);
  }
}
class MyViewModel  {
  public IBase Base { get { return new Base(); } }
  public IDerived Derived { get { return new Derived(); } }
}

gistfile1.txt

Full stack trace:
System.FormatException: Cannot format the value to the desired type.
   at System.Windows.Forms.Binding.FormatObject(Object value)
   at System.Windows.Forms.Binding.PushData(Boolean force)
   at System.Windows.Forms.Binding.UpdateIsBinding()
   at System.Windows.Forms.Binding.CheckBinding()
   at System.Windows.Forms.Binding.SetListManager(BindingManagerBase bindingManagerBase)
   at System.Windows.Forms.ListManagerBindingsCollection.AddCore(Binding dataBinding)
   at System.Windows.Forms.BindingsCollection.Add(Binding binding)
   at System.Windows.Forms.BindingContext.UpdateBinding(BindingContext newBindingContext, Binding binding)
   at System.Windows.Forms.Control.UpdateBindings()
   at System.Windows.Forms.Control.OnBindingContextChanged(EventArgs e)
   at System.Windows.Forms.Control.set_BindingContextInternal(BindingContext value)
   at System.Windows.Forms.ContainerControl.set_BindingContext(BindingContext value)
   at System.Windows.Forms.ContainerControl.get_BindingContext()
   at System.Windows.Forms.Control.UpdateBindings()
   at System.Windows.Forms.Control.OnBindingContextChanged(EventArgs e)
   at System.Windows.Forms.ContainerControl.OnCreateControl()
   at System.Windows.Forms.Form.OnCreateControl()
   at System.Windows.Forms.Control.CreateControl(Boolean fIgnoreVisible)
   at System.Windows.Forms.Control.CreateControl()
   at System.Windows.Forms.Control.WmShowWindow(Message& m)
   at System.Windows.Forms.Control.WndProc(Message& m)
   at System.Windows.Forms.ScrollableControl.WndProc(Message& m)
   at System.Windows.Forms.Form.WmShowWindow(Message& m)
   at System.Windows.Forms.Form.WndProc(Message& m)
   at System.Windows.Forms.Control.ControlNativeWindow.OnMessage(Message& m)
   at System.Windows.Forms.Control.ControlNativeWindow.WndProc(Message& m)
   at System.Windows.Forms.NativeWindow.Callback(IntPtr hWnd, Int32 msg, IntPtr wparam, IntPtr lparam)