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Re: Banjo50 post# 244

Wednesday, 07/03/2019 8:49:26 PM

Wednesday, July 03, 2019 8:49:26 PM

Post# of 270
“Does not compute”.


Liquidating an insurance company takes many years.

LaSalle Re took ten years (2003 to 2013). Preferred holders eventually received $10.60.

Acceptance Insurance Companies, Inc. filed for Chapter 11 bankruptcy in 2005. The case converted to Chapter 7 in 2010. Preferred holders will eventually receive a distribution well in excess of the last trade of nine cents. See AICPQ.

Other names include Primus Guaranty in the CDO space and mortgage insurers Triad Guaranty and PMI Group.

"Someone said it takes 30 years to be an instant success" - Gabriel Barbier-Mueller, CEO of Harwood International