-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, CD0Tm9Y3oWdnuXg+VCOGtdOxymbm8c4BvHBWboZYkmuT4I93jRGqjoivu88jlKnm xgJ78Z/1LkRZwTQ+/wykTw== 0001169232-03-005581.txt : 20030904 0001169232-03-005581.hdr.sgml : 20030904 20030904155052 ACCESSION NUMBER: 0001169232-03-005581 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030820 ITEM INFORMATION: Bankruptcy or receivership ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20030904 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TRENWICK GROUP LTD CENTRAL INDEX KEY: 0001122211 STANDARD INDUSTRIAL CLASSIFICATION: FIRE, MARINE & CASUALTY INSURANCE [6331] IRS NUMBER: 980232340 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-16089 FILM NUMBER: 03881605 BUSINESS ADDRESS: STREET 1: LOM BLDG STREET 2: 27 REID STREET CITY: HAMILTON, BERMUDA STATE: D0 ZIP: HM 11 MAIL ADDRESS: STREET 1: 27 REID STREET LOM BLDG STREET 2: HAMILTON HM 11 BERMUNDA 8-K 1 d56875_8k.txt CURRENT REPORT SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 --------------- FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (date of earliest event reported) - August 20, 2003 --------------- TRENWICK GROUP LTD. (Exact name of registrant as specified in its charter) Bermuda 1-16089 98-0232340 (State or other jurisdiction (Commission File Number) (IRS Employer of Incorporation) Identification No.) LOM Building, 27 Reid Street Hamilton, HM 11, Bermuda Not Applicable (Address of principal executive offices) (Zip Code) (441) 292-4985 (Registrant's telephone number, including area code) None (Former name or address, if changed since last report) Item 3. Bankruptcy or Receivership. On August 20, 2003, Trenwick Group Ltd. ("Trenwick"), LaSalle Re Holdings Limited ("LaSalle Re Holdings") and Trenwick America Corporation ("Trenwick America" and collectively with LaSalle Re Holdings and Trenwick, the "Debtors"), each filed voluntary petitions for relief under Chapter 11 of Title 11 of the United States Code (the "Bankruptcy Code") in the United States Bankruptcy Court for the District of Delaware (the "Bankruptcy Court"). The proceedings are consolidated for administrative purposes only under Case Nos. 03-12635 through 03-12637. The Debtors remain in possession of their assets and properties, and continue to operate their businesses and manage their properties, as "debtors-in-possession" under the jurisdiction of the Bankruptcy Court and in accordance with the applicable provisions of the Bankruptcy Code. Also on August 20, 2003, Trenwick and LaSalle Re Holdings filed insolvency proceedings in the Supreme Court of Bermuda (the "Bermuda Court"). On August 22, 2003, the Bermuda Court granted an order appointing Michael Morrison and John Wardrop, partners of KPMG in Bermuda and KPMG LLP in the U.K., as Joint Provisional Liquidators ("JPLs") in respect of Trenwick and LaSalle Re Holdings. The Bermuda Court granted the JPLs the power to oversee the continuation and reorganization of these companies' businesses under the control of their Boards of Directors and under the supervision of the Bankruptcy Court and the Bermuda Court. Neither KPMG nor the JPLs have audited the contents of this filing. Trenwick's insurance company subsidiaries, Trenwick America Reinsurance Corporation, The Insurance Corporation of New York, Dakota Specialty Insurance Company and LaSalle Re Limited, all of which are in runoff, and its Lloyd's operations are not subject to the proceedings in the Bankruptcy Court or the Bermuda Court and their operations continue. On August 20, 2003, Trenwick issued a press release relating to the foregoing, a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein in its entirety by reference. Item 5. Other Events and Required FD Disclosure. On September 2, 2003, Anthony S. Brown, Robert M. DeMichele, Joseph D. Sargent and Stephen R. Wilcox resigned from the Board of Directors of Trenwick. The Board of Directors elected Alan L. Hunte and Timothy R. Graham to the Board to serve until their successors are duly elected and qualified. Item 7. Financial Statements, Pro Forma Financial Information and Exhibits. (c) Exhibits. Exhibit No. Description ----------- ----------- 99.1 Press Release of Trenwick Group Ltd. issued August 20, 2003. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Report to be signed on its behalf by the undersigned thereunto duly authorized. TRENWICK GROUP LTD. By: /s/ Alan L. Hunte ------------------------- Title: Executive Vice President & Chief Financial Officer Dated: September 4, 2003 EXHIBIT INDEX Exhibit No. Description - ----------- ----------- 99.1 Press Release of Trenwick Group Ltd. issued August 20, 2003. EX-99.1 3 d56875_ex99-1.txt PRESS RELEASE [LETTERHEAD OF TRENWICK GROUP LTD.] Contact: Alan L. Hunte, Executive Vice President and Chief Financial Officer - 441.292.4985 For Immediate Release Trenwick Group Ltd., LaSalle Re Holdings Limited and Trenwick America Corporation File U.S. Chapter 11 Bankruptcy Proceedings to Initiate Previously Announced Restructuring. Insurance Company Subsidiaries Not a Party to Proceedings. Hamilton, Bermuda, August 20, 2003... Trenwick Group Ltd. ("Trenwick") (OTC: TWKGF) stated today that it and its affiliates, LaSalle Re Holdings Limited ("LaSalle Re Holdings") and Trenwick America Corporation ("Trenwick America," and collectively with LaSalle Re Holdings and Trenwick, the "Debtors"), as a step in its previously announced restructuring and in accordance with its August 6 letter of intent with creditors (the "Letter of Intent"), filed for protection under chapter 11 of the United States Bankruptcy Code (the "Bankruptcy Code") with the United States Bankruptcy Court for the District of Delaware (the "Bankruptcy Court"). Additionally, Trenwick and LaSalle Re Holdings are in the process of filing proceedings in the Supreme Court of Bermuda, known under Bermudian law as "winding up", as a further step in the restructuring and in accordance with the previously announced Letter of Intent. Trenwick's insurance company subsidiaries, Trenwick America Reinsurance Corporation, The Insurance Corporation of New York, Dakota Specialty Insurance Company and LaSalle Re Limited, all of which are in runoff, and its Lloyd's operations are not subject to the proceedings in the Bankruptcy Court or the Supreme Court of Bermuda and their operations continue. Background Information Trenwick is a Bermuda-based specialty insurance and reinsurance underwriting organization with subsidiaries located in the United States, the United Kingdom and Bermuda. Trenwick's operations at Lloyd's, London underwrite specialty insurance as well as treaty and facultative reinsurance on a worldwide basis. Trenwick's United States specialty program business, specialty London market insurance company, Trenwick International Limited, and its United States reinsurance business through Trenwick America Reinsurance Corporation are now in runoff. In 2002, Trenwick sold the in-force business of LaSalle Re Limited, its Bermuda based subsidiary. Safe Harbor for Forward-Looking Statements Certain statements made in this press release that are not based on current or historical facts are forward-looking in nature including, without limitation, statements containing words "believes," "anticipates," "plans," "projects," "intends," "expects," "estimates," "predicts," and words of similar import. Such forward-looking statements, including in particular Trenwick's forecast of future results, involve known and unknown risks, assumptions, uncertainties, and other factors disclosed in Trenwick's filings with the Securities and Exchange Commission that may cause actual results, performance, or achievements of Trenwick to differ materially from any future results, performance, or achievements expressed or implied by such forward-looking statements. In particular, forecasting of reserves for future losses is based on historical experience and future assumptions. As a result they are inherently subjective and may fluctuate based on actual future experience and changes to current or future trends in the legal, social or economic environment. Trenwick undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. -----END PRIVACY-ENHANCED MESSAGE-----