AICI Capital Trust 9% Pfd (fka AICPQ)

[Enterprising Investor]

[From the Department of Corrections]

Liabilities were $138.2 million with the AICPQ Capital Trust Notes representing $116.1 million. Litigation claims were $22 million, but the amount would be $13 million less with Buchanan not refiling a Chapter 7 claim. The remaining $9 million would represent the Granite Re litigation when the case converted to Chapter 7.

The Granite Re claim grew to $17,533,966 at 9/30/15. The claim was settled for $11 million due to Continental Casualty Company claim against Granite Re and several other parties.

The result would be that AICIQ should have no litigation claims left to pay.

This may not have been clear in my previous posting.