Replies to post #1032 on Trenwick Group, Ltd.(fka TWKGQ)

[lifegear]

the liquidator Morrison showed his face in the news last month - why would he do that if he's going to screw the common shareholders after distributing 10.50 cash per share to preferred holders?

I think he's saying there'll be a party in Bermuda LOL

[lifegear]

the risk here is selling too early and missing a surprise cash dividend like what the preferreds received last July although that one wasn't a surprise since it was already indicated in Dec07 LSRAF 8K

in 2003, the company claimed that shareholders will likely not receive any return for their shares in the near term if at all

in 2005, the liquidator claimed it's unlikely that shareholders even the preferreds will get anything out of the liquidation

in 2007, a change of tone -- preferreds will be receiving between 10 to 11 cash per share as liquidation distribution and they're UNCERTAIN that common holders will get anything

in 2008, a change of tone again - 10.50 per share to preferreds is just the initial distribution and another is forthcoming for preferreds within a year but this time around, they left out what's going to happen to common holders (see LSRAF 8K July2008)-- I'm hopeful that we'll get an update with the pending 8K this quarter regarding liquidation distribution to common if any

so the fate of common holders has improved from NOTHING, TO UNCERTAIN, TO--not sure what will come out---however Morrison showed his face in the latest news claiming there are still five continget assets left whose value has not yet been ascertained.........hopefully it's an initial cash dividend too besides the possible merger/buyout deal





___________________________________________________
"The only thing necessary for the triumph of evil is for good [people] to do nothing." --Edmund Burke