Trenwick Group, Ltd.(fka TWKGQ)

[temp luvs amy]

From the Greeks?

I used to go to a Greek bar. It was just like Trenwick. They suggested entering from the rear.

[Dondoodit]

The Trainwreck's fate was cast well before the WTC losses were rolled in. The company was never a factor in the reinsurance market -- too small of a player in a market dominated by companies such as Munich, Swiss Re, General Re. Then they compounded it by writing aggressively on the fringes of the market at a time when prices were falling and when underwriting standards were ignored. Add to this some really stupid acquisitions of competitors that had been doing the same thing that the Trainwreck had been doing...

Like the fat man that keels over dead, the Trainwreck killed itself with a knife and fork.

[Dondoodit]

Well, I was on this case almost ten years ago. I also hounded Reliance Group into the ground and gave you the shorts on SCREW Puree and the ADRs (SCOR -- Paris-based reinsurer that almost took the pipe). Also delivered the word on De-Cendant that broke into three stocks, none of which are worth a good crap. Plus I made the point that The Dollar (Dollar General, DTG) was a far stronger rtc than rival Avis (CAR-Crash) and while CAR-Crash did recover about 40x its lows from a year ago, The Dollar was up 80x! If you went long on the Dollar and shorted CAR-Crash you still would have been ahead. More recently I told the world about Crummy Holdings (CRM that renamed itself Majestic Capital shortly before it took a majestic swan dive to sub-penny land).

Either you have not been paying attention or you have an insatiable demand for my shorts!

[Jester_Vandalay]

Growing to fast and not being able to off-load the Company before the Day of Reckoning...

TWKGQ should have taken a lesson from the Greeks

[Stock]

If you were to write the obituary for Trenwick Group Ltd., what would one expect to read in the paper?

Would it prominently mention WTC insured losses?

And as far as the death certificate, the listed cause of death would be...what?

[Stock]

Be sure and let everybody know about the next one...

[Dondoodit]

Nah. Rolled it over long, long ago, when it was up in the real coinage range. Keep in mind that I was selling the turd at about $10-$13, when even management thought that it was a real company. This thing was a ticking time bomb from about 1993.

[Stock]

Did you hold your short to the end?

[S-BEES-BUMBLEBEE]

100% agreed!!!

Not completely about the little guy, but the invention of the "joint stock" corporation was about making a bunch of smaller guys able to compete with the bigger guys and with aristocracy and government. Maybe not exactly the little guy, but the basic plan was to combine small things to make large efforts. It was an effort to empower the middle class.

Now we simply have the aristocracy in control of the joint stock corporations. A return to the roots is probably necessary. That might take some innovation and thought. It certainly won't be fixed by a bunch of nitwits carrying signs and beating on drums.

OTOH, without the drums and signs, the average moron might not notice that the aristocracy had taken over Wall Street and had proceeded to fleece the middle class.

[temp luvs amy]

Not completely about the little guy, but the invention of the "joint stock" corporation was about making a bunch of smaller guys able to compete with the bigger guys and with aristocracy and government. Maybe not exactly the little guy, but the basic plan was to combine small things to make large efforts. It was an effort to empower the middle class.

Now we simply have the aristocracy in control of the joint stock corporations. A return to the roots is probably necessary. That might take some innovation and thought. It certainly won't be fixed by a bunch of nitwits carrying signs and beating on drums.

OTOH, without the drums and signs, the average moron might not notice that the aristocracy had taken over Wall Street and had proceeded to fleece the middle class.

[beachlifeguy]

It's never been about/for the little guy and never will be........

[temp luvs amy]

It's an interesting case study for the "occupy Wall Street" folks.

You know the insiders got out with some sweet deals. Shareholders, nothing. Accountants, Lawyers, and Top Employees got some nice paychecks. The LSUK guys even got the old business model (now canopius) and a few Lloyd's syndicates. Did the little guys get paid? Did they at least pay the janitor?

[Jester_Vandalay]

About time someone finally pulled the plug on life support...

[temp luvs amy]

More likely, they will be sending you a bill for "final expenses."

The way brokerage fees are going, you will get charged for the "reorg" and deletion of the symbol. All of your losses and expenses are tax deductible. No wonder they are demonstrating against Wall Street. All of us "fat cats" are going to get huge writeoffs from this stuff.

[Dondoodit]

It has been made rather clear that anything left over will be paid to the LaSalle prefered shareholders, something that I believe I said would happen about eight years ago (I also said it would take years and years before it was all settled out, and I think it fair to say I was correct on that point too).

[S-BEES-BUMBLEBEE]

Will there be the payment of a liquidation dividend, any thoughts?



***CHAPTER 11 CASE DISMISSED/CANCELLED & BERMUDA LIQUIDATION COMPLETED***

"KPMG said that although the payment of the liquidation

dividend means that substantially all of the Trenwick Group's

affairs have now been finalised IT STILL HAS THE BENEFIT OF

A HANDFUL OF CONTINGENT ASSETS.

HOW MUCH THOSE ASSETS ARE WORTH HAS NOT YET BEEN ASCERTAINED.



SYNDICATE 839 RESERVES:

"At December 31, 2007, Syndicate 839 had gross and net reserves of

335 million pounds ($583M) and 104 million pounds ($181M) respectively..."

[S-BEES-BUMBLEBEE]

Bye-bye TWKGQ!

[beachlifeguy]

It was a LOOONG ride...

OFF A CLIFF!

Be good guys/gals (even you Don)
see ya around the boards

[indepth05]

Temp,Beach,Jester, Thank you guys for everything.
It was a LOOONG ride...

Sorry Eva, no Beach party :(

[beachlifeguy]

Yep.....see ya around.

[temp luvs amy]

That is quite a strange development without an 8K to announce it. You would think they would have at least mentioned the plan to the La Salle holders, and the effect it would have.

Strange, but that is the world of BK. Very little info, if any at all. I never saw any plan which announced that the shares would be cancelled. Must have been announced to the "symbol agency" or the SEC via private communication.

It's gone on Monday. See ya around the boards. I suppose they will do that with other shares I have, and then I can finally claim the tax writeoff. Like I need more writeoffs....

[beachlifeguy]

someone bought 225K at .0004, must not have seen the news, poor devil

[monda2frida]

your welcome

[indepth05]

Thank you...
I just sold my 800K shares...

[monda2frida]

TWKGQ Trenwick Group, Ltd. Ordinary Shares (Bermuda) 10/10/2011 Plan of Bankruptcy Effective. Alls shares have been cancelled.

http://www.otcbb.com/asp/dailylist_detail.asp?d=10/07/2011&mkt_ctg=ALL

[temp luvs amy]

So what happened in all that excitement? Did hypehunter do a pump and dump? Did he get a ten bagger and sell out?

[Dondoodit]

The realistic price target is defined as the present value of future cash flows. Future cash flows to the Trainwreck's common shareholders have been realistically described by the company's caretakers as "zero." Therefore, the realistic price target is....

[S-BEES-BUMBLEBEE]

What are your (realistic) PPS-targets here, if I`m allowed to ask ya that!???

[beachlifeguy]

Just making conversation.....

[S-BEES-BUMBLEBEE]

L2-sreenshot, please!? TIA, Bud..

[S-BEES-BUMBLEBEE]

No, it weren`t mine!

..solely will buy out of Ask in future, Bud!

..but WHY are ya askin`, if I`m allowed to ask ya that???

[beachlifeguy]

are those yours this morning?

[S-BEES-BUMBLEBEE]

..got 1k @Bid! lol

..really funny games they`re playin` here! HEHE

[S-BEES-BUMBLEBEE]

Hmmmmmmmmmmmm...

[temp luvs amy]

Interesting action in La Salle over the last few months.

What is going on? Are we near total windup, or is it just another pitch?

[S-BEES-BUMBLEBEE]

B/A tightened a bit more: $.0021 X .0044, (Best-)Ask downticked to $.0044 (70k)!

[temp luvs amy]

These jokers will probably give him a hundred share fill. Gotta love the MM tricks.

[beachlifeguy]

not going to get em at that price

[S-BEES-BUMBLEBEE]

I`m in the Bid! (@.0023) ..waitin` for fills patiently!

[beachlifeguy]

what are you waiting for?

[S-BEES-BUMBLEBEE]

I can`t decide if I should add here or "there" ~~~

~~~ think I`ve to roll the dice!!! LOL

..think better here! ..over there are tooooooooooooooo many negatives!!! LMFAO!

[S-BEES-BUMBLEBEE]

~~~ Ask is paper-thin, here!!! ~~~

[beachlifeguy]

oh brother.......

[Penny Machine]

Next Run 10 Cents!!!!

[Penny Machine]

Investors competing for High Bid! This is how all Runs Start!!!

[beachlifeguy]

gee, whats taking you so long?