Replies to post #1072 on Trenwick Group, Ltd.(fka TWKGQ)

[lifegear]

I did see the liquidation clause provides them 25.00 cash distribution and unpaid dividends but it seems this is only the case if there's anything left after the final liquidation

from what I understand the deal involving Syndicate 839 won't benefit preferreds from a standpoint of additional cash to make the 25.00 whole since TGL and TAC own 100% of 839 but this is just my speculation

however given the huge amount of prefiling assets they had--over $5B (note that the financials of the non-bankrupt subsidiaries were not included in the post petition financials which drastically reduced the number of assets), making whole the 25.00 shouldn't be a problem at all imho