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AICI Capital Trust 9% Pfd (fka AICPQ)

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Last Post: 7/29/2016 7:11:27 PM - Followers: 27 - Board type: Free - Posts Today: 0

Acceptance Insurance Companies, Inc.
300 W. Broadway
Suite 1600
Council Bluffs, IA 51503

Phone: 712-329-3600

Acceptance Insurance Companies Inc. (OTC: AICIQ) filed a voluntary petition under Chapter 11 On January 7, 2005 in the United States Bankruptcy Court for the District of Nebraska . Additionally, two subsidiaries, Acceptance Insurance Services, Inc. and American Agrisurance, Inc., filed voluntary petitions under Chapter 7 of the Bankruptcy Code on January 7, 2005 in the same venue.

AICI Capital Trust, 9.00% Preferred Securities, liquidation amount $25 per share, guaranteed by Acceptance Insurance Companies, Inc., redeemable at the issuer's option on or after 9/30/2002 at $25 per share plus accrued and unpaid dividends, maturing 9/30/2027, distributions of 9.00% ($2.25) per annum are paid quarterly on 3/31, 6/30, 9/30 & 12/31 to holders of record on 3/15, 6/15, 9/15 & 12/15 respectively. The company has the right, at any time, to defer dividend payments for up to 20 consecutive quarters (but not beyond the maturity date). The trust's assets consist of the 9% Junior Subordinated Deferrable Interest Debentures due 9/30/2027 which were purchased from the company using the funds generated from the sale of the trust preferred securities.  There were 3,795,000 shares outstanding at 11/22/02. AICPQ holders were detailed as having a total claim of $115,059,998, made up of $94,875,00 in principal and $20,184,998 in interest.

Granite Reinsurance Co Ltd has a $9 million claim at the time.

P. Thompson Buchanan filed a $13 million claim for wrongfull termination (Buchanan v. Martin, et al., No. 2004-527 District Court, Lubbock County, Texas). The claim was listed in the Chapter 11 filing, but was not resubmitted by the January 12, 2011 deadline and is no longer a valid claim in the Chapter 7 case

Bankruptcy Judge Timothy J. Mahoney denied the Motion to Extend/Limit Exclusivity for Filing a Chapter 11 Plan and Disclosure Statement on 8/20/08 (Docket 355).

See the IPO prospectus for further information on the trust preferred securities by clicking on the 'Link to IPO Prospectus' provided below:

http://www.sec.gov/Archives/edgar/data/74783/0000950124-97-003947.txt

 

 

 

 

 

PostSubject
#302   AICPQ CUSIP suspended. FINRA deleted symbol: Renee 07/29/16 07:11:27 PM
#301   AICPQ hits new 52-week low (6/21/16) Enterprising Investor 06/21/16 07:26:23 PM
#300   [From the Department of Corrections] Enterprising Investor 03/05/16 11:57:22 AM
#299   Granite Re Files Motions in Lancaster County, Nebraska Enterprising Investor 03/05/16 11:52:16 AM
#298   EDGAR: Enterprising Investor 01/19/16 01:49:09 PM
#297   Searching for financial reports filed after AICI filed lasting 01/19/16 01:05:21 PM
#296   well 'someone' must see 'something' as they have db7 01/04/16 04:53:39 PM
#295   Olmstead actually provided the answer earlier today - PMIR. Enterprising Investor 01/04/16 04:46:16 PM
#294   Still holding my 12,000 shares! LouMannheim 01/04/16 03:57:10 PM
#293   In full disclosure I trimmed some today while db7 01/04/16 03:51:55 PM
#292   Very active between 12:13 and 13:03 ET today Enterprising Investor 01/04/16 02:50:32 PM
#291   Yes one can only imagine so Olmsted 01/04/16 12:51:08 PM
#290   Myers and FitzGibbons would have had to been Enterprising Investor 01/04/16 12:47:49 PM
#289   Objection / Joinder and Supplemental Objection of Deutsche Enterprising Investor 01/04/16 12:34:42 PM
#288   The settlement could be viewed as both good Enterprising Investor 01/04/16 12:27:10 PM
#287   I have not contacted him as of late.. db7 01/04/16 09:31:35 AM
#286   Ok that understanding is consistent with what the Olmsted 01/04/16 09:18:59 AM
#285   Hi Olmsted, db7 01/04/16 07:50:37 AM
#284   Forgive me for the uninformed question but I've Olmsted 01/03/16 11:11:02 PM
#283   The settlement is not front page WSJ news. Enterprising Investor 12/31/15 01:46:54 PM
#282   I'm surprised at the amount of shares available db7 12/31/15 11:58:42 AM
#281   The surplus notes are considered capital. Enterprising Investor 12/31/15 10:05:41 AM
#280   so it is a true asset then with db7 12/31/15 09:57:10 AM
#279   Represents the equity invested in AIC. Enterprising Investor 12/31/15 09:55:15 AM
#278   The Surplus Notes were issued to AICIQ. Enterprising Investor 12/31/15 09:36:26 AM
#277   one oddity I find in the Q3 is db7 12/31/15 09:35:38 AM
#276   FitzGibbons responsibility as rehabilitator is managing AIC. Enterprising Investor 12/31/15 09:32:30 AM
#275   trying to decipher the value here... looking over db7 12/31/15 09:25:43 AM
#274   will be interesting to see what end game db7 12/31/15 09:17:51 AM
#273   Would you have the case number for Frank goldcanyon341 12/31/15 02:20:25 AM
#272   AIC has $89,375,343 in NOLs. Enterprising Investor 12/31/15 01:28:06 AM
#271   The Granite Re Judgement with accrued interest stood Enterprising Investor 12/31/15 01:16:22 AM
#270   Satisfaction of Judgment Filed by Frank M. Schepers Enterprising Investor 12/31/15 01:06:21 AM
#268   Purchased a mere 2,500 shares at the unlucky Enterprising Investor 12/31/15 12:24:37 AM
#267   Volume 101,812 today. That was somewhat surprising. goldcanyon341 12/30/15 04:52:11 PM
#266   2017 mentioned lol.. so I guess I still db7 11/18/15 04:46:33 PM
#265   false alarm.. Motion to approve just showed up db7 11/18/15 04:46:00 PM
#263   I thought Pacer 'was' the ECF system? db7 11/18/15 03:15:40 PM
#262   Don't worry. Be happy! Enterprising Investor 11/18/15 03:13:02 PM
#261   yes, BUT I'm more concerned of 'what' they db7 11/18/15 03:05:23 PM
#260   Cost-cutting move. Enterprising Investor 11/18/15 03:04:07 PM
#259   was really hoping I had at least another db7 11/18/15 02:55:47 PM
#258   new filing on pacer, "MOTION TO LIMIT NOTICE"..excerpt: db7 11/18/15 02:13:02 PM
#257   Added 1,000 shares at $.20 on 11/13/15. Enterprising Investor 11/13/15 05:32:30 PM
#256   https://finance.yahoo.com/news/budget-deal-cut-popular-crop-204311628.html db7 10/27/15 05:15:17 PM
#255   merely an observation.... not sure that it means db7 09/17/15 01:48:51 PM
#254   Added 5,000 shares at $.1625 on 8/10/15. Enterprising Investor 08/11/15 10:46:32 PM
#253   Nothing detailed in the text. Do you remember the Enterprising Investor 05/20/15 01:42:26 PM
#252   Was referring to the time you informed me db7 05/20/15 01:08:17 PM
#251   Reviewed dozens of AIC reports through the years. Enterprising Investor 05/20/15 10:25:23 AM
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