AICI Capital Trust 9% Pfd (fka AICPQ)

[Enterprising Investor]

Application for Fees & Expenses for Polsinelli PC, Special Counsel, Fee: $121203.50, Expenses: $3541.82. Filed by Attorney James E Bird 9013 Objections due by 7/15/2019 (6/24/19)

5. The efforts of the Trustee and Special Counsel will shortly lead to a very sizable distribution from its subsidiary’s Acceptance Insurance Company, in Rehabilitation (“Acceptance”) on its Surplus Note obligation to the Debtor’s estate as the result of the IAT Settlement. Further, efforts are proceeding toward a commutation and release agreement with Clarendon and Practorian (the “Enstar Settlement”) that will allow further distributions on the Surplus Note. Finally, negotiations are also underway to sell the stock of the subsidiary Acceptance to a third party.

Source: PACER [Docket 609]