Replies to post #6199 on Trenwick Group, Ltd.(fka TWKGQ)

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Eva, help me remember... who is Neil? This biography looks very strangely familiar... hmmmmmm.....

NEIL GOLDING

Neil Golding has a general restructuring and insolvency background (and is a licensed insolvency practitioner), but in recent years has concentrated on the insurance sector. He is now primarily responsible for the firm’s Insurance Solutions team. This consists of a dedicated team of lawyers who specialise in restructuring and insolvency in the insurance sector, together with others who have an interest in that area and are able to offer specialist advice as required (for example, in the regulatory, litigation or tax fields).

His work has included advising:

the liquidators of the HIH group (Australia’s second largest insurer and biggest ever corporate collapse, which failed in 2001);

the provisional liquidators of the Trenwick/La Salle group (the first time that the Chapter 11 process in the US and the provisional liquidation procedure in a common law jurisdiction – here Bermuda – has been used to restructure an insurance group);

Reliance National Insurance Company Ltd in Europe on the preparation of solvent scheme of arrangement in England and on its implementation in Spain, Belgium, Sweden, Switzerland, Germany and Holland;

a well known run-off company on a range of issues following its appointment to manage the affairs of several Lloyd’s syndicates;

the biggest creditor in relation to the solvent scheme of arrangement put forward for a group of six London market companies (including Prudential/Pearl/Elders/Hiscox);
a well known investment bank about its funding of a special purpose vehicle set up to purchase very large claims against insolvent insurers;

the biggest creditor of the KWELM companies on proposals to amend the companies’ schemes of arrangement (KWELM being the world’s largest ever insurance insolvency);

the Financial Services Compensation Scheme on proposals to amend the scheme of arrangement for Bermuda Fire & Marine Insurance Company Ltd;

Swiss Re on the potential ramifications of Federal-Mogul’s filings for insolvency protection in the UK and US;

a Bermudian reinsurance company on the restructuring of its complicated excess of loss and stop loss arrangements with a Barbados insurance company, which in turn insured a large group with interests in the US, Canada and Ireland;

the liquidators of EMLICO, an insolvent Bermudan insurance company, on a wide range of proceedings in England, Bermuda and the US; and

a major creditor on a variety of matters (in a total of nine jurisdictions) arising out of the insolvency of North Atlantic Insurance Company.

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Ah nice, the provisional liquidators of the Trenwick/La Salle group (the first time that the Chapter 11 process in the US and the provisional liquidation procedure in a common law jurisdiction – here Bermuda – has been used to restructure an insurance group);