TAC owes nothing to LSRAF or anybody else...except policyholders and claimants of the insurance subs. TAC is under the supervision and control of the insurance regulator (Delaware, I believe) and as I told you years ago his first responsibility is to the policyholders and claimants and that, in an insurance rehabilitation he has the power to repudiate all debts not specifically owed to that consituentcy. In fact, if he determines that certain policyholders and claimants are "sophisticated buyers" (generally, large commercial lines accounts) he can reduce or repudiate those claims.
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