AICI Capital Trust 9% Pfd (fka AICPQ)

[Enterprising Investor]

Olmstead actually provided the answer earlier today - PMIR.

I only realized last year that PMIR creditors gained control of the equity in that case. I told 56Chevy that the PMIR plan and disclosure statement would make a good template for the AICIQ case.

PMIR owns a non-controlling stake in its mortgage insurance subsidiary, which continues to collect premiums and pay out claims, while AICIQ has not written a new policy in years and claims are slowing down to a trickle.

The real question now and back when Granite Re filed its plan remains the same. How much of the non-admitted assets will eventually convert to admitted assets?