Trenwick Group, Ltd.(fka TWKGQ)

[temp luvs amy]

Yeah, you hit it. "Snall recievables" sounds pretty insignificant. It is kind of explanatory, knowing that they already took the $20 million in excess of the $67 million, and now they need to recieve the small amount that is left which passes through Trenwick to the tune of almost $67 million if collectable. The $35 million payment should have at least stopped the clock on the yearly dividend. Some of the $6 million cost of liquidation should fall on LSRAF, and possibly even allow a distribution to Trenwick without passing through the entire $67 million.

Getting the $67 million is still the big question. NOL's could be part of the payoff unless they act like idiots and just drop them into the black hole of government. Maybe the liquidators should just take a trip to Washington and act like real CEO's and beg for a bailout?