Replies to post #6689 on Trenwick Group, Ltd.(fka TWKGQ)

[flatman55]

we're all going to be millionaires come friday next week

[lifegear]

I was looking at that too which reminded me of the possibility of a reverse triangular merger using Canopius Group Ltd and its subsidiary Canopius UK Holdings Ltd of merging with LSUK or Lasalle UK Holdings Ltd

that statement shows that even their loans and debts to third parties were acquired

perhaps they even acquired the debt security of Swiss Re's $55M Series B Preferred convertible shares to make the acquisition of LSUK since those preferreds are convertible to common shares which have voting interest in whatever subsidiary we have

the only way to get the voting rights on LSUK is to get some of our 100% voting interest in LSRH, our wholly owned subsidiary that has 100% voting interest in LSUK

LSUK was not liquidated at all imho

[lifegear]

that could mean that we're now part of a $1.5B insurance company Canopius

[lifegear]

Canopius is an investment holding company whose principal investment is Canopius Holdings UK Limited (“CHUKL”), which owns underwriting businesses at Lloyd’s.

CHUKL’s subsidiary, Canopius Managing Agents Limited (“CMA”) manages Syndicate 4444 on behalf of the Group’s own corporate capital vehicles and for third parties.

a perfect merger with our Lloyd's operations imho

http://www.canopius.com/bin/pdf/original_pdf_file/canopius_expands_into_bermuda_05-09-2007.pdf

[lifegear]

CHUKL Canopius Holdings UK Limited is the company that acquired our former subsidiary Trenwick Managing Agents in 2003 and renamed it Canopius Managing Agents

so CHUKL completed the acquisition of LSUK Lasalle UK Holding Ltd, the subsidiary of our wholly owned subsidiary LSRH, earlier this June together with its debts and loans to third parties

what do we get in return for our $67M in Notes owed by LSUK?