4. The proposed sale of the Company’s Lloyd’s operations and settlement of debt obligations
"As outlined in the Company’s 8-K report dated December 12, 2007, the JPLs signed a non-binding term sheet in respect of the sale of certain corporate entities and novation of certain debt obligations due to, inter alia, TGL and its subsidiaries (the “Transaction”)...
THE JPLs BELIEVE THAT THE TRANSACTION IS IN THE BEST INTERESTS OF ALL OF THE COMPANY'S STAKEHOLDERS..."