Replies to post #110 on BANKRUPTCY PLAYS (CHAPTER)

[lifegear]

interesting....Trenwick Group Limited is a Bermuda company which is the ultimate holding company of the Trenwick Group, a major Lloyd’s and US insurer and reinsurer.

The Provisional Liquidators, now Liquidators were appointed to oversee a restructuring of the group, involving provisional liquidation in Bermuda, Chapter 11 filings in the USA and a management buy out of the Lloyd’s operations in the UK.

LaSalle Re Holdings Limited remains in Provisional Liquidation and is an intermediate Bermuda holding company in the Trenwick group. LaSalle Re Limited, the immediate subsidiary of LaSalle Re Holdings Limited, is not in insolvency proceedings but is instead in a solvent scheme of arrangement which became effective on 2 May 2007.

http://www.kpmg.co.uk/services/r/ins/cases/tren_salle.cfm

[lifegear]

so LaSalle is not insolvent and there's a management buyout of Lloyd's insurance?

[Stock]

Case: Trenwick Group Limited and LaSalle Re Holdings Limited



Provisional Liquidators: Mike Morrison (Bermuda)
John Wardrop (London)

Date of Appointment:
22 August 2003

Current Payment Percentage:
0 percent

Background:

Trenwick Group Limited is a Bermuda company which is the ultimate holding company of the Trenwick Group, a major Lloyd’s and US insurer and reinsurer.

The Provisional Liquidators, now Liquidators were appointed to oversee a restructuring of the group, involving provisional liquidation in Bermuda, Chapter 11 filings in the USA and a management buy out of the Lloyd’s operations in the UK.

LaSalle Re Holdings Limited remains in Provisional Liquidation and is an intermediate Bermuda holding company in the Trenwick group. LaSalle Re Limited, the immediate subsidiary of LaSalle Re Holdings Limited, is not in insolvency proceedings but is instead in a solvent scheme of arrangement which became effective on 2 May 2007.

Recent Developments:

Future realisations will depend on the outcome of the Plan of Reorganisation and the outcome of the 2004 to 2006 underwriting years at Syndicates 44 and 4444.

Contact:

To file a claim:


Bermuda
Mike Morrison
KPMG
Crown House
4 Par-la-Ville Road
Hamilton HM08
Bermuda London
Michael Tagg
KPMG LLP
8 Salisbury Square
London
EC4Y 8BB
United Kingdom

Tel: [phone]
Fax: [phone] Tel: [phone]
Fax: [phone]


To contact the Provisional Liquidators staff:


Bermuda
Mike Morrison
KPMG
Crown House
4 Par-la-Ville Road
Hamilton HM08
Bermuda London
Michael Tagg
KPMG LLP
8 Salisbury Square
London
EC4Y 8BB
United Kingdom

Tel: [phone]
Fax: [phone] Tel: [phone]
Fax: [phone]


For further information about our services, or if you would like one of our professionals to contact you, please .


Information correct as at 31 January 2008.