Replies to post #7113 on Trenwick Group, Ltd.(fka TWKGQ)

[lifegear]

the Lasalle Cover documents made a statement about that too, provisional versus permanent liquidation

[lifegear]

"Usually this will be at the hearing of the application to wind up the company when the application will either be:

(a) dismissed, ending the appointment, or
I'm waiting for this to happen with TWKGQ and LSRAF.


(b) granted, turning the appointment into an official liquidation."
This is what happened to Lasalle Re Ltd according to the most recent 8K.

Following the completion of the Scheme, LaSalle was placed into member’s voluntary liquidation on March 13, 2008 and Mike Morrison and Malcolm Butterfield were appointed Joint Liquidators at the commencement of the member’s voluntary liquidation. LaSalle’s liquidators distributed substantially all of LaSalle’s remaining shareholder surplus of approximately $32 million to LSRH on July 21, 2008 and at the same time the liquidators of LaSalle assigned LaSalle’s remaining contingent assets to its parent, LSRH. These contingent assets included the inter company loan owed by TGL to LaSalle for approximately US$87 million.

[temp luvs amy]

That was enough to convice me!!

" At the end of the provisional liquidation, control of the company will either pass back to the directors, or to an official liquidator - depending on the outcome of the winding up application."

I say we organize and elect a slate of potential directors. Flip the old directors to the wolves if they sold their shares.