-----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, ITKuGf8UxcwsvwgZQz492VC8/7XbSnQE4Vu4VW8KxNbAdcV4HndGjyuNVwjoEUza me+EMvzYffiXjhTRutBFMg== 0001169232-04-005969.txt : 20041203 0001169232-04-005969.hdr.sgml : 20041203 20041203154945 ACCESSION NUMBER: 0001169232-04-005969 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 5 CONFORMED PERIOD OF REPORT: 20041020 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20041203 DATE AS OF CHANGE: 20041203 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: 041183798 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 d61525_8-k.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) - October 20, 2004 ---------- TRENWICK GROUP LTD. (Exact name of registrant as specified in its charter) (in provisional liquidation) Bermuda 1-16089 98-0232340 (State or other jurisdiction of (Commission (IRS Employer Incorporation) File Number) Identification No.) LOM Building, 27 Reid Street Not Applicable Hamilton, HM 11, Bermuda (Zip Code) (Address of principal executive offices) (441) 292-4985 (Registrant's telephone number, including area code) None (Former name or address, if changed since last report) Item 7.01. Regulation FD Disclosure A. On October 20, 2004, Trenwick America Corporation, Trenwick Group Ltd. (in provisional liquidation) and LaSalle Re Holdings Limited (in provisional liquidation) (collectively, the "Debtors" or "Companies") filed monthly operating reports as of August 20, 2003 and September 30, 2004 and for the month ended September 30, 2004 and the period from August 20, 2003 to September 30, 2004 (the "Monthly Operating Reports") with the United States Bankruptcy Court for the District of Delaware (the "Bankruptcy Court"). Copies of the Monthly Operating Reports are attached hereto as Exhibits 99.1, 99.2 and 99.3 and are incorporated herein by reference. The Monthly Operating Reports include financial information only with respect to the Debtors. Accordingly, the Monthly Operating Reports do not contain detailed financial information with respect to those subsidiaries and affiliates of Trenwick Group Ltd. (in provisional liquidation) ("TGL") that have not commenced proceedings to reorganize under chapter 11 of the United States Bankruptcy Code or have not filed insolvency proceedings in the Supreme Court of Bermuda. The non-Debtor entities are listed in Exhibit 99.4. The Monthly Operating Reports are in a format prescribed by the applicable bankruptcy laws. Readers are cautioned not to place undue reliance upon the information contained in the Monthly Operating Reports. The information in the Monthly Operating Reports has been prepared in accordance with accounting standards generally accepted in the United States of America for interim reporting, with the exception of accounting for wholly-owned subsidiaries of the Debtors, which have not been consolidated. In addition, certain information and footnote disclosures required by accounting principles generally accepted in the United States of America have been condensed or omitted for purposes of the Monthly Operating Reports. There can be no assurance that the Monthly Operating Reports are complete, and the Companies undertake no obligation to update or revise the Operating Reports. The Monthly Operating Reports have not been audited or reviewed by independent accountants. The unaudited information in the Monthly Operating Reports is subject to further review and potential adjustments and is not necessarily indicative of future results. In addition, the Monthly Operating Reports contain information for periods which are different from those contained in the Debtors' reports pursuant to the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and do not include consolidated results of the Debtors. Accordingly, the substance and format of the Monthly Operating Reports do not allow for meaningful comparison with the Companies' previously disclosed consolidated financial statements. The financial statements included in the Monthly Operating Reports were prepared using certain assumptions and estimates that are subject to revision. Any adjustments for these estimates (based upon changes in facts and circumstances, further analysis, and other factors) will be reflected in the financial statements in the period during which such adjustments are made. These adjustments could have a material impact on reported results in the future. In the future, so long as each Debtor remains under the supervision of the Bankruptcy Court, in lieu of filing quarterly reports on Form 10-Q and annual reports on Form 10-K, each such Debtor intends to file on Form 8-K its monthly operating reports as filed with, and in the format prescribed by, the Bankruptcy Court. B. On August 20, 2003, TGL and LaSalle Re Holdings Limited (in provisional liquidation) ( "LaSalle") 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 United Kingdom, respectfully, as Joint Provisional Liquidators ("JPLs") in respect of TGL and LaSalle. 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. The JPLs have not audited the contents of this report. The Companies are debtors and debtors-in-possession in In re Trenwick America Corporation, et al., Case No. 03-12635 (MFW) (Bankr. D. Del. 2003), In re Trenwick Group Ltd., et al., Case No. 03-12636 (MFW) (Bankr. D. Del. 2003) and In re LaSalle Re Holdings Limited, et al., Case No. 03-12637 (MFW) (Bankr. D. Del. 2003). Limitation on Incorporation by Reference In accordance with general instruction B.2 of Form 8-K, the Monthly Operating Reports and other information in this Report (including exhibits) are furnished pursuant to Item 7.01 and shall not be deemed to be "filed" for the purposes of Section 18 of the Exchange Act, or otherwise subject to liabilities under that Section, nor shall they be deemed to be incorporated by reference in any filing under the Securities Act of 1933, as amended, except as expressly set forth in such filing. This report will not be deemed an admission as to the materiality of any information in the report that is required to be disclosed solely by Regulation FD. Item 9.01 Financial Statements, Pro Forma Financial Information and Exhibits. (c) Exhibits. Exhibit No. Description ----------- ----------- 99.1 September 2004 Monthly Operating Report of Trenwick Group Ltd. (in provisional liquidation), dated October 20, 2004. 99.2 September 2004 Monthly Operating Report of Trenwick America Corporation, dated October 20, 2004. 99.3 September 2004 Monthly Operating Report of LaSalle Re Holdings Limited (in provisional liquidation), dated October 20, 2004. 99.4 List of non-Debtor entities 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. (in provisional liquidation) By: /s/ W. Marston Becker ------------------------------------------- Name: W. Marston Becker Title: Chairman and Chief Executive Officer Dated: December 3, 2004 EXHIBIT INDEX Exhibit No. Description ----------- ----------- 99.1. September 2004 Monthly Operating Report of Trenwick Group Ltd. (in provisional liquidation), dated October 20, 2004. 99.2. September 2004 Monthly Operating Report of Trenwick America Corporation, dated October 20, 2004. 99.3. September 2004 Monthly Operating Report of LaSalle Re Holdings Limited (in provisional liquidation), dated October 20, 2004 99.4. List of non-Debtor entities EX-99.1 2 d61525_ex99-1.txt 09/04 MONTHLY OPERATING REPORT Trenwick Group Ltd. Exhibit 99.1 UNITED STATES BANKRUPTCY COURT _______________DISTRICT OF_______________ In re: Trenwick Group Ltd. Case No. 03-12636 (MFW) Reporting Period: September 2004 MONTHLY OPERATING REPORT File with Court and submit copy to United States Trustee within 20 days after end of month. Submit copy of report to any official committee appointed in the case.
- ---------------------------------------------------------------------------------------------------------------- Document Explanation Required Documents Form No. Attached Attached - ---------------------------------------------------------------------------------------------------------------- Schedule of Cash Receipts and Disbursements MOR-1 Yes Bank Reconciliation (or copies of debtor's bank reconciliations) MOR-1 Yes Copies of bank statements N/A Cash disbursements journals MOR-1 Yes Statement of Operations MOR-2 Yes Balance Sheet MOR-3 Yes Status of Postpetition Taxes MOR-4 N/A Copies of IRS Form 6123 or payment receipt N/A Copies of tax returns filed during reporting period N/A Summary of Unpaid Postpetition Debts MOR-4 N/A Listing of aged accounts payable MOR-4 N/A Accounts Receivable Reconciliation and Aging MOR-5 Yes Debtor Questionnaire MOR-5 Yes - ----------------------------------------------------------------------------------------------------------------
I declare under penalty of perjury (28 U.S.C. Section 1746) that this report and the attached documents are true and correct to the best of of my knowledge and belief. October 20, 2004 - ------------------------------------------ Date Signature of Debtor October 20, 2004 - ------------------------------------------ Date Signature of Joint Debtor October 20, 2004 - ------------------------------------------ Date Signature of Authorized Individual* Alan L. Hunte - ------------------------------------------ Printed Name of Authorized Individual* *Authorized individual must be an officer, director or shareholder if debtor is a corporation; a partner if debtor is a partnership; a manager or member if debtor is a limited liability company. Trenwick Group Ltd. Exhibit 99.1 In re: Trenwick Group Ltd. Case No. 03-12636 (MFW) Schedule of Cash Receipts & Disbursements Reporting Period: September 2004
Bank Accounts Operating Payroll Tax Other ------------------------------------------------------------------ Cash - Beg of Month 65,786.30 -- NA NA ------------------------------------------------------------------ Receipts: Cash Sales -- -- -- -- Accounts Rec. -- -- -- -- Loans & Advances -- -- -- -- Sale of Assets -- -- -- -- Other -- -- -- Transfers -- -- -- -- ------------------------------------------------------------------ Total Receipts -- -- ------------------------------------------------------------------ Disbursements: Net Payroll -- -- -- -- Payroll Taxes -- -- -- -- Sales, Use, & Other Tax -- -- -- -- Inventory Purchases -- -- -- -- Secured Rental/Leases -- -- -- -- Insurance -- -- -- -- Administrative -- -- -- -- Selling -- -- -- -- Other -- -- -- -- Transfers to P/R Acct -- -- -- -- Professional Fees (19,381.44) -- -- -- Court Costs -- -- -- -- ------------------------------------------------------------------ Total Disbursements: (19,381.44) -- -- -- ------------------------------------------------------------------ Net Cash Flow: (19,381.44) -- -- -- ------------------------------------------------------------------ Cash: End of Month 46,404.86 -- -- -- ==================================================================
FORM MOR-1 Trenwick Group Ltd. Exhibit 99.1 Trenwick Group Ltd Bank Reconciliations September 2004 The following Chase Accounts have been reconciled Operating: Location: JPMorganChase, NY ABA No. 021-000-021 Month End Book Balance $ 46,404.86 FORM MOR-1 Trenwick Group Ltd. Exhibit 99.1 Trenwick Group Ltd Disbursements September 2004
Date Amount Vendor Name - ------------- -------------- --------------------------------------------------------------------------- 9/30/2004 216.30 Deraventures, invoice no.110143-37201-03 9/30/2004 2,903.18 Equiserve, invoice no. 170650 9/30/2004 5,215.26 Equiserve, invoice no. 172041 9/30/2004 2,892.43 Equiserve, invoice no. 173425 9/30/2004 668.00 CT Corporation invoice no. 1338360-RI 9/30/2004 676.00 CT Corporation invoice no. 1344162-RI 9/30/2004 1,063.00 CT Corporation invoice no. 11400750-RI 9/30/2004 797.00 CT Corporation invoice no. 1455621 9/30/2004 4,950.27 CPT invoice no.4130 ------------- TOTAL 19,381.44 -------------
FORM MOR-1 Trenwick Group Ltd. Exhibit 99.1 Trenwick Group Ltd. Case No. 03-12636 (MFW) Debtor Reporting Period: September 2004 Statement of Operations (Income Statement)
- --------------------------------------------------------------------------------------- Month Ended Cumulative REVENUES September 2004 Filing to Date - --------------------------------------------------------------------------------------- Gross Revenues $ -- $ (567,222) - --------------------------------------------------------------------------------------- Less: Returns and Allowances -- -- - --------------------------------------------------------------------------------------- Net Revenue $ -- $ (567,222) - --------------------------------------------------------------------------------------- COST OF GOODS SOLD - --------------------------------------------------------------------------------------- Beginning Inventory -- -- - --------------------------------------------------------------------------------------- Add: Purchases -- -- - --------------------------------------------------------------------------------------- Add:Cost of Labor -- -- - --------------------------------------------------------------------------------------- Add: Other costs (schedule attached) -- -- - --------------------------------------------------------------------------------------- Less: Ending Inventory -- -- - --------------------------------------------------------------------------------------- Cost of Goods Sold -- -- - --------------------------------------------------------------------------------------- Gross Profit -- (567,222) - --------------------------------------------------------------------------------------- OPERATING EXPENSES - --------------------------------------------------------------------------------------- Advertising -- -- - --------------------------------------------------------------------------------------- Auto and Truck Expense -- 13,522 - --------------------------------------------------------------------------------------- Bad Debts -- -- - --------------------------------------------------------------------------------------- Contributions -- -- - --------------------------------------------------------------------------------------- Employee Benefits Programs -- 236,015 - --------------------------------------------------------------------------------------- Insider compensation* -- 68,710 - --------------------------------------------------------------------------------------- Insurance 2,402 455,691 - --------------------------------------------------------------------------------------- Management Fees/Bonuses -- -- - --------------------------------------------------------------------------------------- Office Expense -- 8,207 - --------------------------------------------------------------------------------------- Pension & Profit-Sharing Plans -- -- - --------------------------------------------------------------------------------------- Repairs and Maintenance -- -- - --------------------------------------------------------------------------------------- Rent and Lease Expense -- -- - --------------------------------------------------------------------------------------- Salaries/Commissions/Fees -- (75,192) - --------------------------------------------------------------------------------------- Supplies 797 12,012 - --------------------------------------------------------------------------------------- Taxes-Payroll -- -- - --------------------------------------------------------------------------------------- Taxes-Real Estate -- -- - --------------------------------------------------------------------------------------- Taxes-Other 8,108 53,375 - --------------------------------------------------------------------------------------- Travel and Entertainment -- -- - --------------------------------------------------------------------------------------- Utilities -- -- - --------------------------------------------------------------------------------------- Other (attach schedule) -- 1,992,544 - --------------------------------------------------------------------------------------- Total Operating Expenses Before Depreciation 11,307 2,764,884 - --------------------------------------------------------------------------------------- Depreciation/Depletion/Amortization 127,984 1,732,472 - --------------------------------------------------------------------------------------- Net Profit(Loss) Before Other Income & Expenses (139,291) (5,064,578) - --------------------------------------------------------------------------------------- OTHER INCOME AND EXPENSES - --------------------------------------------------------------------------------------- Other Income (attach schedule) (4,218,188) (59,781,073) - --------------------------------------------------------------------------------------- Interest Expense -- -- - --------------------------------------------------------------------------------------- Other Expense (attach schedule) -- 33,099,059 - --------------------------------------------------------------------------------------- Net Profit (Loss) Before Reorganization Items (4,357,479) (97,944,710) - --------------------------------------------------------------------------------------- REORGANIZATION ITEMS - --------------------------------------------------------------------------------------- Professional Fees -- -- - --------------------------------------------------------------------------------------- U.S. Trustee Quarterly Fees -- -- - --------------------------------------------------------------------------------------- Interest Earned on Accumulated Cash - --------------------------------------------------------------------------------------- from Chapter 11 (see continuation sheet) 261 (16,518) - --------------------------------------------------------------------------------------- Gain(Loss) from Sale of Equipment -- -- - --------------------------------------------------------------------------------------- Other Reorganization Expenses (attach schedule) 4,950 148,519 - --------------------------------------------------------------------------------------- Total Reorganization Expenses 4,689 165,037 - --------------------------------------------------------------------------------------- Income Taxes -- -- - --------------------------------------------------------------------------------------- Net Profit (Loss) $(4,362,168) $(98,109,747) - ---------------------------------------------------------------------------------------
* Insiders represent members of the Runoff Management Team. The Trenwick group's U.S. operations currently have an additional 24 officers which were not considered insiders for purposes of this disclosure. FORM MOR-2 Trenwick Group Ltd. Exhibit 99.1 Trenwick Group Ltd. Case No. 03-12636 (MFW) Debtor Reporting Period: September 2004 STATEMENT OF OPERATIONS - continuation sheet
- ----------------------------------------------------------------------------------- Month Ended Cumulative BREAKDOWN OF "OTHER" CATEGORY September 2004 Filing to Date - ----------------------------------------------------------------------------------- Other Costs - ----------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------- Other Operational Expenses - ----------------------------------------------------------------------------------- Board Related -- (62,640) - ----------------------------------------------------------------------------------- Other Fees -- 2,054,231 - ----------------------------------------------------------------------------------- Data Processing -- 953 - ----------------------------------------------------------------------------------- TOTAL OTHER OPERATIONAL EXPENSES $ -- $ 1,992,544 - ----------------------------------------------------------------------------------- Other Income - ----------------------------------------------------------------------------------- Equity in Undistributed Income (Loss) of Unconsolidated Subsidiaries (4,218,188) (59,781,073) - ----------------------------------------------------------------------------------- TOTAL OTHER INCOME $(4,218,188) $(59,781,073) - ----------------------------------------------------------------------------------- Other Expenses - ----------------------------------------------------------------------------------- Loss on Sale of Trenwick International Ltd. -- 33,099,059 - ----------------------------------------------------------------------------------- TOTAL OTHER EXPENSES $ -- $ 33,099,059 - ----------------------------------------------------------------------------------- Other Reorganization Expenses - ----------------------------------------------------------------------------------- Bankruptcy Related Fees 4,950 148,519 - ----------------------------------------------------------------------------------- TOTAL OTHER REORGANIZATION EXPENSES $ 4,950 $ 148,519 - ----------------------------------------------------------------------------------- - -----------------------------------------------------------------------------------
FORM MOR-2 Trenwick Group Ltd. Exhibit 99.1 Trenwick Group Ltd. Case No. 03-12636 (MFW) Debtor Reporting Period: September 2004 BALANCE SHEET
- ---------------------------------------------------------------------------------------------------------------- BOOK VALUE AT END OF BOOK VALUE ON ASSETS CURRENT REPORTING MONTH PETITION DATE - ---------------------------------------------------------------------------------------------------------------- CURRENT ASSETS - ---------------------------------------------------------------------------------------------------------------- Unrestricted Cash and Equivalents -- -- - ---------------------------------------------------------------------------------------------------------------- Restricted Cash and Cash Equivalents (see continuation sheet) 506,739 655,336 - ---------------------------------------------------------------------------------------------------------------- Accounts Receivable (Net) 225,014 (591,090) - ---------------------------------------------------------------------------------------------------------------- Notes Receivable -- -- - ---------------------------------------------------------------------------------------------------------------- Inventories -- -- - ---------------------------------------------------------------------------------------------------------------- Prepaid Expenses 14,342 1,088,137 - ---------------------------------------------------------------------------------------------------------------- Professional Retainers 2,001,195 2,200,000 - ---------------------------------------------------------------------------------------------------------------- Other Current Assets (attach schedule) -- 3,861 - ---------------------------------------------------------------------------------------------------------------- TOTAL CURRENT ASSETS $ 2,747,290 $ 3,356,244 - ---------------------------------------------------------------------------------------------------------------- PROPERTY AND EQUIPMENT - ---------------------------------------------------------------------------------------------------------------- Real Property and Improvements -- -- - ---------------------------------------------------------------------------------------------------------------- Machinery and Equipment -- -- - ---------------------------------------------------------------------------------------------------------------- Furniture, Fixtures and Office Equipment -- 82,181 - ---------------------------------------------------------------------------------------------------------------- Leasehold Improvements -- -- - ---------------------------------------------------------------------------------------------------------------- Vehicles -- -- - ---------------------------------------------------------------------------------------------------------------- Less Accumulated Depreciation -- (33,020) - ---------------------------------------------------------------------------------------------------------------- TOTAL PROPERTY & EQUIPMENT $ -- $ 49,161 - ---------------------------------------------------------------------------------------------------------------- OTHER ASSETS - ---------------------------------------------------------------------------------------------------------------- Loans to Insiders* -- -- - ---------------------------------------------------------------------------------------------------------------- Other Assets (attach schedule) 97,597,610 220,135,876 - ---------------------------------------------------------------------------------------------------------------- TOTAL OTHER ASSETS $ 97,597,610 $ 220,135,876 - ---------------------------------------------------------------------------------------------------------------- - ---------------------------------------------------------------------------------------------------------------- TOTAL ASSETS $ 100,344,899 $ 223,541,281 ================================================================================================================ - ---------------------------------------------------------------------------------------------------------------- BOOK VALUE AT END OF BOOK VALUE ON LIABILITIES AND OWNER EQUITY CURRENT REPORTING MONTH PETITION DATE - ---------------------------------------------------------------------------------------------------------------- LIABILITIES NOT SUBJECT TO COMPROMISE (Postpetition) - ---------------------------------------------------------------------------------------------------------------- Accounts Payable -- -- - ---------------------------------------------------------------------------------------------------------------- Taxes Payable (refer to FORM MOR-4) -- -- - ---------------------------------------------------------------------------------------------------------------- Wages Payable -- 4,900 - ---------------------------------------------------------------------------------------------------------------- Notes Payable -- -- - ---------------------------------------------------------------------------------------------------------------- Rent/Leases - Building/Equipment -- -- - ---------------------------------------------------------------------------------------------------------------- Secured Debt/Adequate Protection Payments -- -- - ---------------------------------------------------------------------------------------------------------------- Professional Fees -- -- - ---------------------------------------------------------------------------------------------------------------- Amounts Due to Insiders* -- -- - ---------------------------------------------------------------------------------------------------------------- Other Postpetition Liabilities (attach schedule) -- -- - ---------------------------------------------------------------------------------------------------------------- TOTAL POSTPETITION LIABILITIES $ -- $ 4,900 - ---------------------------------------------------------------------------------------------------------------- LIABILITIES SUBJECT TO COMPROMISE (Pre-Petition) - ---------------------------------------------------------------------------------------------------------------- Secured Debt -- -- - ---------------------------------------------------------------------------------------------------------------- Priority Debt -- -- - ---------------------------------------------------------------------------------------------------------------- Unsecured Debt 216,406,559 216,896,055 - ---------------------------------------------------------------------------------------------------------------- TOTAL PRE-PETITION LIABILITIES $ 216,406,559 $ 216,896,055 - ---------------------------------------------------------------------------------------------------------------- TOTAL LIABILITIES 216,406,559 216,900,955 - ---------------------------------------------------------------------------------------------------------------- OWNER EQUITY - ---------------------------------------------------------------------------------------------------------------- Capital Stock 3,673,000 3,676,102 - ---------------------------------------------------------------------------------------------------------------- Additional Paid-In Capital 574,262,130 574,823,017 - ---------------------------------------------------------------------------------------------------------------- Partners' Capital Account -- -- - ---------------------------------------------------------------------------------------------------------------- Owner's Equity Account -- -- - ---------------------------------------------------------------------------------------------------------------- Retained Earnings - Pre-Petition (551,923,031) (551,923,031) - ---------------------------------------------------------------------------------------------------------------- Retained Earnings - Post-Petition (98,109,747) -- - ---------------------------------------------------------------------------------------------------------------- Adjustments to Owner Equity (attach schedule) (43,964,013) (19,935,762) - ---------------------------------------------------------------------------------------------------------------- Post Petition Contributions (Distributions) (Draws) (attach schedule) -- -- - ---------------------------------------------------------------------------------------------------------------- NET OWNER EQUITY $(116,061,660) $ 6,640,326 - ---------------------------------------------------------------------------------------------------------------- - ---------------------------------------------------------------------------------------------------------------- TOTAL LIABILITIES AND OWNERS' EQUITY $ 100,344,899 $ 223,541,281 ================================================================================================================
FORM MOR-3 Trenwick Group Ltd. Exhibit 99.1 Trenwick Group Ltd. Case No. 03-12636 (MFW) Debtor Reporting Period: September 2004 BALANCE SHEET - continuation sheet - ------------------------------------------------------------------------------- BOOK VALUE AT END OF BOOK VALUE ON ASSETS CURRENT REPORTING MONTH PETITION DATE - ------------------------------------------------------------------------------- - ------------------------------------------------------------------------------- OTHER CURRENT ASSETS - ------------------------------------------------------------------------------- Accrued Investment Income -- 3,861 - ------------------------------------------------------------------------------- TOTAL OTHER CURRENT ASSETS $ -- $ 3,861 - ------------------------------------------------------------------------------- - ------------------------------------------------------------------------------- - ------------------------------------------------------------------------------- OTHER ASSETS - ------------------------------------------------------------------------------- Prepaid Deposits 19,622 19,622 - ------------------------------------------------------------------------------- Investment in Subsidiaries 96,047,700 215,156,938 - ------------------------------------------------------------------------------- Miscellaneous Other Assets 1,530,288 4,959,316 - ------------------------------------------------------------------------------- TOTAL OTHER ASSETS $ 97,597,610 $ 220,135,876 - ------------------------------------------------------------------------------- - ------------------------------------------------------------------------------- BOOK VALUE AT END OF BOOK VALUE ON LIABILITIES AND OWNER EQUITY CURRENT REPORTING MONTH PETITION DATE - ------------------------------------------------------------------------------- - ------------------------------------------------------------------------------- UNSECURED DEBTS (PRE-PETITION) - ------------------------------------------------------------------------------- Accrued Expenses 889,421 1,299,727 - ------------------------------------------------------------------------------- Interest Payable 2,276,323 2,276,323 - ------------------------------------------------------------------------------- Due to Affiliates 94,400,034 94,479,224 - ------------------------------------------------------------------------------- Other Liabilities 118,840,781 118,840,781 - ------------------------------------------------------------------------------- TOTAL UNSECURED DEBTS (PRE-PETITION) $ 216,406,559 $ 216,896,055 - ------------------------------------------------------------------------------- - ------------------------------------------------------------------------------- - ------------------------------------------------------------------------------- - ------------------------------------------------------------------------------- ADJUSTMENT TO OWNER EQUITY - ------------------------------------------------------------------------------- Deferred Compensation (146,946) (1,125,099) - ------------------------------------------------------------------------------- Equity in Subsidiary (43,817,066) (18,810,663) - ------------------------------------------------------------------------------- TOTAL ADJUSTMENT TO OWNER EQUITY $ (43,964,013) $ (19,935,762) - ------------------------------------------------------------------------------- FORM MOR-3 Trenwick Group Ltd. Exhibit 99.1 Trenwick Group Ltd. Case No. 03-12636 (MFW) Debtor Reporting Period: September 2004 ACCOUNTS RECEIVABLE RECONCILIATION AND AGING
- -------------------------------------------------------------------------------------- ------------ Accounts Receivable Reconciliation Amount - -------------------------------------------------------------------------------------- ------------ Total Accounts Receivable at the beginning of the reporting period $ 225,014.00 - -------------------------------------------------------------------------------------- ------------ + Amounts billed during the peiod -- - -------------------------------------------------------------------------------------- ------------ - - Amounts collected during the peiod -- - -------------------------------------------------------------------------------------- ------------ Total Accounts Receivable at the end of the reporting period 225,014.00 - -------------------------------------------------------------------------------------- ------------ - -------------------------------------------------------------------------------------- ------------ Accounts Receivable Aging Amount - -------------------------------------------------------------------------------------- ------------ 0 - 30 days old -- - -------------------------------------------------------------------------------------- ------------ 31 - 60 days old -- - -------------------------------------------------------------------------------------- ------------ 61 - 90 days old - -------------------------------------------------------------------------------------- ------------ 91 + days old 9,667,533.00 - -------------------------------------------------------------------------------------- ------------ Total Accounts Receivable 9,667,533.00 - -------------------------------------------------------------------------------------- ------------ Amount considered uncollectible (Bad Debt) (9,442,519.00) - -------------------------------------------------------------------------------------- ------------- Accounts Receivable (Net) 225,014.00 - -------------------------------------------------------------------------------------- -------------
DEBTOR QUESTIONNAIRE
- -------------------------------------------------------------------------------------- ------------- Must be completed each month Yes No - -------------------------------------------------------------------------------------- ------------- 1. Have any assets been sold or transferred outside the normal course of business this reporting period? If yes, provide an explanation below. X - -------------------------------------------------------------------------------------- ------------- 2. Have any funds been disbursed from any account other than a debtor in possession account this reporting period? If yes, provide and explanation below. X - -------------------------------------------------------------------------------------- ------------- 3. Have all postpetition tax returns been timely filed? If no, provide an explanation below. X - -------------------------------------------------------------------------------------- ------------- 4. Are workers compensation, general liability and other necessary insurance coverages in effect? If no, provide an explanation below. X - -------------------------------------------------------------------------------------- -------------
FORM MOR-5 (9/99) EX-99.2 3 d61525_ex99-2.txt 09/04 MONTHING OPERATING REPORT Trenwick Group Ltc. Exhibit 99.2 UNITED STATES BANKRUPTCY COURT _______________DISTRICT OF_______________ In re: Trenwick America Corporation Case No. 03-12635(MFW) Reporting Period: September 2004 MONTHLY OPERATING REPORT File with Court and submit copy to United States Trustee within 20 days after end of month. Submit copy of report to any official committee appointed in the case.
- -------------------------------------------------------------------------------------------------------------------- Document Explanation Required Documents Form No. Attached Attached - -------------------------------------------------------------------------------------------------------------------- Schedule of Cash Receipts and Disbursements MOR-1 Yes Bank Reconciliation (or copies of debtor's bank reconciliations) MOR-1 Yes Copies of bank statements N/A Cash disbursements journals MOR-1 Yes Statement of Operations MOR-2 Yes Balance Sheet MOR-3 Yes Status of Postpetition Taxes MOR-4 Yes Copies of IRS Form 6123 or payment receipt N/A Copies of tax returns filed during reporting period Yes Summary of Unpaid Postpetition Debts MOR-4 Yes Listing of aged accounts payable MOR-4 Yes Accounts Receivable Reconciliation and Aging MOR-5 Yes Debtor Questionnaire MOR-5 Yes - --------------------------------------------------------------------------------------------------------------------
I declare under penalty of perjury (28 U.S.C. Section 1746) that this report and the attached documents are true and correct to the best of of my knowledge and belief. /s/ Alan L. Hunte October 20, 2004 - ------------------------------------------ Date Signature of Debtor /s/ Alan L. Hunte October 20, 2004 - ------------------------------------------ Date Signature of Joint Debtor /s/ Alan L. Hunte October 20, 2004 - ------------------------------------------ Date Signature of Authorized Individual* Alan L. Hunte - ------------------------------------------ Printed Name of Authorized Individual* *Authorized individual must be an officer, director or shareholder if debtor is a corporation; a partner if debtor is a partnership; a manager or member if debtor is a limited liability company. Trenwick Group Ltc. Exhibit 99.2 In re: Trenwick America Corporation Case No. 03-12635 (MFW) Schedule of Cash Receipts & Disbursements Reporting Period: September 2004
Bank Accounts Operating Payroll Tax Other ----------------------------------------------------------- Cash - Beg of Month 2,173,645.11 35,331.89 NA -- ----------------------------------------------------------- Receipts: Cash Sales -- -- -- -- Accounts Rec. -- -- -- -- Loans & Advances -- -- -- -- Sale of Assets -- -- -- -- Deposit/WT IN 14,037.30 -- -- -- Other 2,028.70 -- -- -- Fund Transfer(Vista MM Redemption) -- -- -- -- Transfers (Interco) 1,919,124.53 796,265.96 -- -- ----------------------------------------------------------- Total Receipts 1,935,190.53 796,265.96 -- -- ----------------------------------------------------------- Disbursements: Net Payroll (520,530.91) -- -- Payroll Taxes -- (275,735.05) -- -- Sales, Use, & Other Tax -- -- -- -- Inventory Purchases -- -- -- -- Secured Rental/Leases (154,313.30) -- -- -- Insurance -- -- -- -- Administrative (423,965.31) -- -- -- Selling -- -- -- -- Other -- -- -- Transfers (PR) (796,265.96) -- -- -- Professional Fees (87,927.32) -- -- -- Court Costs -- -- -- -- ----------------------------------------------------------- Total Disbursements (1,462,471.89) (796,265.96) -- -- ----------------------------------------------------------- Net Cash Flow 472,718.64 -- -- -- ----------------------------------------------------------- Cash: End of Month 2,646,363.75 35,331.89 -- -- ===========================================================
FORM MOR-1 Trenwick Group Ltc. Exhibit 99.2 Trenwick America Corporation Bank Reconciliations Reporting Period: September 2004 The following bank accounts have been reconciled Operating: Location: JPMorganChase, NY ABA No. 021-000-021 Month End Book Balance $ 2,646,363.75 Payroll: Location: JPMorganChase, NY ABA No. 021-000-021 Month End Book Balance $ 35,331.89 FORM MOR-1 Trenwick Group Ltc. Exhibit 99.2 Trenwick America Corporation Disbursements Log (Excludes Intercompany) Month Ended September 30, 2004
Wire Date Amount Vendor Name - ------------------------------------- ----------------- --------------------------------------------- 9/06/04 86,983.62 New York Life Benefit Services Co. 9/30/04 84,350.45 New York Life Benefit Services Co. 9/01/04 3,370.61 Flexible Spending 9/13/04 3,037.28 Flexible Spending 9/30/04 3,016.45 Flexible Spending - ------------------------------------- ---------------- Wire Transfer total 180,758.41 - ------------------------------------- ---------------- Check Number Amount Vendor Name - ------------------------------------- ---------------- --------------------------------------------- 108930 13,825.39 CYPRESS COMMUNICATIONS 108931 1,050.00 Marty Becker 108932 31.48 Robert Crowther 108933 2,240.46 Tyler Jr.,Stanlee C. 108934 1,735.93 Zicarelli,Sue 108935 128.25 Thomas,Richard R. 108936 858.00 Timothy Graham 108937 1,799.00 American Conference Institute 108938 441.00 CT Corporation System 108939 525.00 Casualty Actuarial Society 108940 283.63 Ceridian Employer Services 108941 142.50 Eastern Benefit Systems, Inc. 108942 154,313.30 Equity Office Properties, L.L.C. 108943 2,252.73 Federal Express Corporation 108944 150.00 Federal Reserve Bank of Cleveland 108945 1,665.00 James Kevin Flynn 108946 728.00 Joyce Van Lines, Inc. 108947 5,332.80 MBSII.net 108948 1,370.00 Mary A. Pagoto 108949 141.89 Paul Feldsher 108950 6,373.25 Propark, Inc. 108951 397.26 Staples Business Advantage 108952 5,562.00 Sungard Availability Services Inc. 108953 1,650.00 Trevaskis & Associates Inc. 108954 121.27 Visible Computer Supply Corporation 108955 87,927.32 Young, Conaway, Stargatt & Taylor, LLP 108956 711.59 AT&T 108957 278.44 AT&T 108958 985.00 Advanced Solutions, Inc. 108959 466.46 BMC Solutions, Inc. 108960 225.33 Bronx SCU 108961 1,607.65 CDW Direct, LLC 108962 199.50 COGENT COMMUNICATIONS, INC 108963 55.00 CSCPA 108964 14,258.10 CYPRESS COMMUNICATIONS 108965 806.25 Carmen Ivette Bigaud 108966 354.41 Ceridian Employer Services 108967 900.00 Cogent Communications, Inc. 108968 3,112.86 Crystal Rock Water Company 108969 859.28 Federal Express Corporation 108970 21.20 Goodway Printing & Graphics 108971 7,373.53 Iron Mountain 108972 1,530.00 James Kevin Flynn 108973 400.00 Liz Sue Bagels 108974 50.90 MCI
FORM MOR-1 Trenwick Group Ltc. Exhibit 99.2 108975 299.25 MCI 108976 195.00 Mail Delivery Service of Stamford, LLC 108977 719.96 Motient 108978 705.97 Nextel 108979 54.80 Skytel 108980 229.60 Staples Business Advantage 108981 531.25 Susan Genovese 108982 2,644.52 Temco Service Industries, Inc. 108983 86.35 The Basket Case 108984 774.90 Carrie Struzynski 108985 359.98 DiMarzo David 108986 1,037.45 Hunte,Alan L. 108988 812.79 Louis Direnzo 108989 923.24 Mary Fortado 108991 880.89 BMW Financial Services 108992 948.70 Business Invirons 108993 353.21 Ceridian Employer Services 108994 748.81 Federal Express Corporation 108995 21.20 Goodway Printing & Graphics 108996 367.98 Imagistics International Inc. 108997 322.59 Iron Mountain 108998 1,935.00 James Kevin Flynn 108999 7,110.40 MBSII.net 109000 63.34 MCI 109001 1,431.75 MCI 109002 3,247.47 Pitney Bowes 109003 5,454.00 Re Systems Group 109004 615.92 Staples Business Advantage 109005 2,400.00 Trevaskis & Associates Inc. 109006 355.43 Daniels,Gary 109007 107.11 Duarte,Deborah 109008 249.70 Gale,Matthew B. 109009 1,033.98 Mary Fortado 109011 316.66 Nicole Morris 109012 86,680.04 Anthem BCBSCT 109013 225.33 Bronx SCU 109014 243.13 CDW Direct, LLC 109015 199.50 COGENT COMMUNICATIONS, INC 109018 806.25 Carmen Ivette Bigaud 109019 7,363.54 Delta Dental 109022 4,472.41 Equity Office Properties, L.L.C. 109023 1,806.08 Federal Express Corporation 109024 4,572.00 Imagistics International Inc. 109025 1,890.00 James Kevin Flynn 109026 1,893.75 Lexis/Nexis 109027 659.27 Petty Cash/Sam Mills 109028 240.78 Staples Business Advantage 109029 393.75 Susan Genovese 109030 382.50 TriTech Software Development Corporation 109031 11,039.03 Unum Life Insurance Company of America ---------------- Total Checks 485,447.52 ---------------- Total September Disbursements 666,205.93 - -------------------------------------------------------
FORM MOR-1 Trenwick Group Ltc. Exhibit 99.2 Trenwick America Corporation Case No. 03-12635 (MFW) Debtor Reporting Period: September 2004 Statement of Operations (Income Statement)
- --------------------------------------------------------------------------------------- Month to Date Cumulative REVENUES September 2004 Filing to Date - --------------------------------------------------------------------------------------- Gross Revenues $ 154 $ 241,801 - --------------------------------------------------------------------------------------- Less: Returns and Allowances -- -- - --------------------------------------------------------------------------------------- Net Revenue $ 154 $ 241,801 - --------------------------------------------------------------------------------------- COST OF GOODS SOLD -- - --------------------------------------------------------------------------------------- Beginning Inventory -- -- - --------------------------------------------------------------------------------------- Add: Purchases -- -- - --------------------------------------------------------------------------------------- Add:Cost of Labor -- -- - --------------------------------------------------------------------------------------- Add: Other costs (schedule attached) -- -- - --------------------------------------------------------------------------------------- Less: Ending Inventory -- -- - --------------------------------------------------------------------------------------- Cost of Goods Sold -- -- - --------------------------------------------------------------------------------------- Gross Profit 154 241,801 - --------------------------------------------------------------------------------------- OPERATING EXPENSES - --------------------------------------------------------------------------------------- Advertising -- -- - --------------------------------------------------------------------------------------- Auto and Truck Expense 30 378 - --------------------------------------------------------------------------------------- Bad Debts -- -- - --------------------------------------------------------------------------------------- Contributions -- (2,500) - --------------------------------------------------------------------------------------- Employee Benefits Programs 3,593 43,767 - --------------------------------------------------------------------------------------- Insider compensation* 38,856 844,507 - --------------------------------------------------------------------------------------- Insurance (11,556) 7,272 - --------------------------------------------------------------------------------------- Management Fees/Bonuses ** 285,059 (710,560) - --------------------------------------------------------------------------------------- Office Expense 2,528 49,936 - --------------------------------------------------------------------------------------- Pension & Profit-Sharing Plans 1,319 40,052 - --------------------------------------------------------------------------------------- Repairs and Maintenance 184 3,260 - --------------------------------------------------------------------------------------- Rent and Lease Expense 6,373 696,685 - --------------------------------------------------------------------------------------- Salaries/Commissions/Fees 53,687 470,860 - --------------------------------------------------------------------------------------- Supplies 7,110 89,190 - --------------------------------------------------------------------------------------- Taxes-Payroll (1,009) 24,704 - --------------------------------------------------------------------------------------- Taxes-Real Estate 306 2,824 - --------------------------------------------------------------------------------------- Taxes-Other (4,640) 6,105 - --------------------------------------------------------------------------------------- Travel and Entertainment 175 3,166 - --------------------------------------------------------------------------------------- Utilities 156 2,108 - --------------------------------------------------------------------------------------- Other (attach schedule) (107,434) 5,209,833 - --------------------------------------------------------------------------------------- Total Operating Expenses Before Depreciation 274,736 6,781,586 - --------------------------------------------------------------------------------------- Depreciation/Depletion/Amortization 4,374 289,114 - --------------------------------------------------------------------------------------- Net Profit(Loss) Before Other Income & Expenses (278,957) (6,828,900) - --------------------------------------------------------------------------------------- OTHER INCOME AND EXPENSES - --------------------------------------------------------------------------------------- Other Income (attach schedule) (6,231,850) (59,018,534) - --------------------------------------------------------------------------------------- Interest Expense -- -- - --------------------------------------------------------------------------------------- Other Expense (attach schedule) -- -- - --------------------------------------------------------------------------------------- Net Profit (Loss) Before Reorganization Items (6,510,808) (65,847,435) - --------------------------------------------------------------------------------------- REORGANIZATION ITEMS - --------------------------------------------------------------------------------------- Professional Fees -- -- - --------------------------------------------------------------------------------------- U.S. Trustee Quarterly Fees -- -- - --------------------------------------------------------------------------------------- Interest Earned on Accumulated Cash - --------------------------------------------------------------------------------------- from Chapter 11 (see continuation sheet) 5,757 60,142 - --------------------------------------------------------------------------------------- Gain(Loss) from Sale of Equipment -- (75,210) - --------------------------------------------------------------------------------------- Other Reorganization Expenses (attach schedule) (1,175,794) 5,765,168 - --------------------------------------------------------------------------------------- Total Reorganization Expenses 1,181,551 (5,780,236) - --------------------------------------------------------------------------------------- Income Taxes -- (170,205) - --------------------------------------------------------------------------------------- Net Profit (Loss) $(5,329,257) $(71,457,466) - ---------------------------------------------------------------------------------------
* Insiders represent members of the Runoff Management Team. The Trenwick group's U.S. operations currently have an additional 24 officers which were not considered insiders for purposes of this disclosure. ** Represents amounts charged to Trenwick America Corporation's affiliates under the Administrative Services Agreement FORM MOR-2 Trenwick Group Ltc. Exhibit 99.2 Trenwick America Corporation Case No. 03-12635 (MFW) Debtor Reporting Period: September 2004 STATEMENT OF OPERATIONS - continuation sheet - ------------------------------------------------------------------------------- Month to Date Cumulative BREAKDOWN OF "OTHER" CATEGORY September 2004 Filing to Date - ------------------------------------------------------------------------------- Other Costs - ------------------------------------------------------------------------------- - ------------------------------------------------------------------------------- - ------------------------------------------------------------------------------- Other Operational Expenses - ------------------------------------------------------------------------------- Recruiting & Relocation -- 2,951 - ------------------------------------------------------------------------------- Legal Fees 1,952 13,180 - ------------------------------------------------------------------------------- Audit Fees (92,778) (26,530) - ------------------------------------------------------------------------------- Accounting & Tax Fees (20,000) 46,654 - ------------------------------------------------------------------------------- Other Fees -- 5,119,513 - ------------------------------------------------------------------------------- Data Processing 1,800 43,273 - ------------------------------------------------------------------------------- Seminars & Continuing Education 752 6,105 - ------------------------------------------------------------------------------- Dues & Subscriptions 840 4,687 - ------------------------------------------------------------------------------- TOTAL OTHER OPERATIONAL EXPENSES $ (107,434) $ 5,209,833 - ------------------------------------------------------------------------------- Other Income - ------------------------------------------------------------------------------- Equity in Undistributed Income (Loss) of Unconsolidated Subsidiaries (6,231,850) (59,018,534) - ------------------------------------------------------------------------------- TOTAL OTHER INCOME $(6,231,850) $(59,018,534) - ------------------------------------------------------------------------------- Other Expenses - ------------------------------------------------------------------------------- Other Reorganization Expenses - ------------------------------------------------------------------------------- Bankruptcy Related Fees (1,175,794) 5,765,168 - ------------------------------------------------------------------------------- TOTAL OTHER REORGANIZATION EXPENSES $(1,175,794) $ 5,765,168 - ------------------------------------------------------------------------------- FORM MOR-2 Trenwick Group Ltc. Exhibit 99.2 Trenwick America Corporation Case No. 03-12635 (MFW) Debtor Reporting Period: September 2004 BALANCE SHEET
- ---------------------------------------------------------------------------------------------------------------- BOOK VALUE AT END OF BOOK VALUE ON ASSETS CURRENT REPORTING MONTH PETITION DATE - ---------------------------------------------------------------------------------------------------------------- CURRENT ASSETS - ---------------------------------------------------------------------------------------------------------------- Unrestricted Cash and Equivalents 6,279,854 4,532,566 - ---------------------------------------------------------------------------------------------------------------- Restricted Cash and Cash Equivalents (see continuation sheet) -- -- - ---------------------------------------------------------------------------------------------------------------- Accounts Receivable (Net) 50,620,809 48,745,299 - ---------------------------------------------------------------------------------------------------------------- Notes Receivable -- -- - ---------------------------------------------------------------------------------------------------------------- Inventories -- -- - ---------------------------------------------------------------------------------------------------------------- Prepaid Expenses 163,790 503,054 - ---------------------------------------------------------------------------------------------------------------- Professional Retainers 1,000 10,000 - ---------------------------------------------------------------------------------------------------------------- Other Current Assets (attach schedule) 340,703 327,755 - ---------------------------------------------------------------------------------------------------------------- TOTAL CURRENT ASSETS $ 57,406,156 $ 54,118,674 - ---------------------------------------------------------------------------------------------------------------- PROPERTY AND EQUIPMENT - ---------------------------------------------------------------------------------------------------------------- Real Property and Improvements -- -- - ---------------------------------------------------------------------------------------------------------------- Machinery and Equipment -- -- - ---------------------------------------------------------------------------------------------------------------- Furniture, Fixtures and Office Equipment 17,641,546 20,723,654 - ---------------------------------------------------------------------------------------------------------------- Leasehold Improvements 3,381,585 3,485,693 - ---------------------------------------------------------------------------------------------------------------- Vehicles -- -- - ---------------------------------------------------------------------------------------------------------------- Less Accumulated Depreciation (17,239,288) (15,433,035) - ---------------------------------------------------------------------------------------------------------------- TOTAL PROPERTY & EQUIPMENT $ 3,783,842 $ 8,776,312 - ---------------------------------------------------------------------------------------------------------------- OTHER ASSETS - ---------------------------------------------------------------------------------------------------------------- Loans to Insiders* 49,699 266,900 - ---------------------------------------------------------------------------------------------------------------- Other Assets (attach schedule) 183,170,272 249,660,381 - ---------------------------------------------------------------------------------------------------------------- TOTAL OTHER ASSETS $ 183,219,970 $ 249,927,281 - ---------------------------------------------------------------------------------------------------------------- - ---------------------------------------------------------------------------------------------------------------- TOTAL ASSETS $ 244,409,969 $ 312,822,267 ================================================================================================================ - ---------------------------------------------------------------------------------------------------------------- BOOK VALUE AT END OF BOOK VALUE ON LIABILITIES AND OWNER EQUITY CURRENT REPORTING MONTH PETITION DATE - ---------------------------------------------------------------------------------------------------------------- LIABILITIES NOT SUBJECT TO COMPROMISE (Postpetition) - ---------------------------------------------------------------------------------------------------------------- Accounts Payable -- -- - ---------------------------------------------------------------------------------------------------------------- Taxes Payable (refer to FORM MOR-4) -- -- - ---------------------------------------------------------------------------------------------------------------- Wages Payable 19,657 -- - ---------------------------------------------------------------------------------------------------------------- Notes Payable -- -- - ---------------------------------------------------------------------------------------------------------------- Rent/Leases - Building/Equipment -- -- - ---------------------------------------------------------------------------------------------------------------- Secured Debt/Adequate Protection Payments -- -- - ---------------------------------------------------------------------------------------------------------------- Professional Fees 673,470 -- - ---------------------------------------------------------------------------------------------------------------- Amounts Due to Insiders* -- -- - ---------------------------------------------------------------------------------------------------------------- Other Postpetition Liabilities (attach schedule) 7,098,854 -- - ---------------------------------------------------------------------------------------------------------------- TOTAL POSTPETITION LIABILITIES $ 7,791,982 $ -- - ---------------------------------------------------------------------------------------------------------------- LIABILITIES SUBJECT TO COMPROMISE (Pre-Petition) - ---------------------------------------------------------------------------------------------------------------- Secured Debt -- -- - ---------------------------------------------------------------------------------------------------------------- Priority Debt -- -- - ---------------------------------------------------------------------------------------------------------------- Unsecured Debt 288,386,641 289,648,446 - ---------------------------------------------------------------------------------------------------------------- TOTAL PRE-PETITION LIABILITIES $ 288,386,641 $ 289,648,446 - ---------------------------------------------------------------------------------------------------------------- TOTAL LIABILITIES 296,178,623 289,648,446 - ---------------------------------------------------------------------------------------------------------------- OWNER EQUITY - ---------------------------------------------------------------------------------------------------------------- Capital Stock 100 100 - ---------------------------------------------------------------------------------------------------------------- Additional Paid-In Capital 266,985,085 266,985,085 - ---------------------------------------------------------------------------------------------------------------- Partners' Capital Account -- -- - ---------------------------------------------------------------------------------------------------------------- Owner's Equity Account -- -- - ---------------------------------------------------------------------------------------------------------------- Retained Earnings - Pre-Petition (246,858,372) (246,858,372) - ---------------------------------------------------------------------------------------------------------------- Retained Earnings - Post-Petition (71,457,466) -- - ---------------------------------------------------------------------------------------------------------------- Adjustments to Owner Equity (attach schedule) (438,001) 3,047,008 - ---------------------------------------------------------------------------------------------------------------- Post Petition Contributions (Distributions) (Draws) (attach schedule) -- -- - ---------------------------------------------------------------------------------------------------------------- NET OWNER EQUITY $ (51,768,654) $ 23,173,821 - ---------------------------------------------------------------------------------------------------------------- - ---------------------------------------------------------------------------------------------------------------- TOTAL LIABILITIES AND OWNERS' EQUITY $ 244,409,969 $ 312,822,267 ================================================================================================================
* Insiders represent members of the Runoff Management Team. The Trenwick group's U.S. operations currently have an additional 24 officers which were not included in this amount. FORM MOR-3 Trenwick Group Ltc. Exhibit 99.2 Trenwick America Corporation Case No. 03-12635 (MFW) Debtor Reporting Period: September 2004 BALANCE SHEET - continuation sheet - ------------------------------------------------------------------------------ BOOK VALUE AT END OF BOOK VALUE ON ASSETS CURRENT REPORTING MONTH PETITION DATE - ------------------------------------------------------------------------------ - ------------------------------------------------------------------------------ OTHER CURRENT ASSETS - ------------------------------------------------------------------------------ Accrued Investment Income 340,703 327,755 - ------------------------------------------------------------------------------ TOTAL OTHER CURRENT ASSETS $ 340,703 $ 327,755 - ------------------------------------------------------------------------------ - ------------------------------------------------------------------------------ - ------------------------------------------------------------------------------ OTHER ASSETS - ------------------------------------------------------------------------------ Deferred Taxes Receivable 1,308,827 1,198,532 - ------------------------------------------------------------------------------ Investment in Subsidiaries 181,857,932 244,859,636 - ------------------------------------------------------------------------------ Miscellaneous Other Assets 3,513 3,602,213 - ------------------------------------------------------------------------------ TOTAL OTHER ASSETS $ 183,170,272 $249,660,381 - ------------------------------------------------------------------------------ - ------------------------------------------------------------------------------ BOOK VALUE AT END OF BOOK VALUE ON LIABILITIES AND OWNER EQUITY CURRENT REPORTING MONTH PETITION DATE - ------------------------------------------------------------------------------ - ------------------------------------------------------------------------------ UNSECURED DEBTS (PRE-PETITION) - ------------------------------------------------------------------------------ Accounts Payable 64,914 42,517 - ------------------------------------------------------------------------------ Accrued Expenses -- 1,290,790 - ------------------------------------------------------------------------------ Interest Payable 12,728,025 12,728,025 - ------------------------------------------------------------------------------ Taxes Payable 2,602,010 2,601,759 - ------------------------------------------------------------------------------ Due to Affiliates 82,787,757 82,787,757 - ------------------------------------------------------------------------------ Indebtedness 190,203,934 190,197,598 - ------------------------------------------------------------------------------ TOTAL UNSECURED DEBTS (PRE-PETITION) $ 288,386,641 $289,648,446 - ------------------------------------------------------------------------------ - ------------------------------------------------------------------------------ - ------------------------------------------------------------------------------ OTHER POSTPETITION LIABILITIES - ------------------------------------------------------------------------------ Accrued Expenses 1,665,187 -- - ------------------------------------------------------------------------------ Severance Payable 352,638 -- - ------------------------------------------------------------------------------ Bonuses Payable 2,072,743 -- - ------------------------------------------------------------------------------ Taxes Payable 2,400,441 -- - ------------------------------------------------------------------------------ Due to Affiliates 607,846 -- - ------------------------------------------------------------------------------ TOTAL OTHER POSTPETITION LIABILITIES $ 7,098,854 $ -- - ------------------------------------------------------------------------------ - ------------------------------------------------------------------------------ - ------------------------------------------------------------------------------ ADJUSTMENT TO OWNER EQUITY - ------------------------------------------------------------------------------ Equity in Subsidiary (438,001) 3,047,008 - ------------------------------------------------------------------------------ TOTAL ADJUSTMENT TO OWNER EQUITY $ (438,001) $ 3,047,008 - ------------------------------------------------------------------------------ FORM MOR-3 Trenwick Group Ltc. Exhibit 99.2 Trenwick America Corporation Case No. 03-12635 (MFW) Debtor Reporting Period: September 2004 STATUS OF POSTPETITION TAXES The beginning tax liability should be the ending liability from the prior month or, if this is the first report, the amount should be zero. Attach photocopies of IRS Form 6123 or payment receipt to verify payment or deposit of federal payroll taxes. Attach photocopies of any tax returns filed during the reporting period.
- -------------------------------------------------------------------------------------------------------------------------- Beginning Withheld or Check. No Ending Tax Tax Liability Accrued Amount Paid Date Paid or EFT Liability ========================================================================================================================== Federal - -------------------------------------------------------------------------------------------------------------------------- Withholding -- 157,705 157,705 9/14, 9/29 EFT -- - -------------------------------------------------------------------------------------------------------------------------- FICA-Employee -- 35,967 35,967 9/14, 9/29 EFT -- - -------------------------------------------------------------------------------------------------------------------------- FICA-Employer -- 35,967 35,967 9/14, 9/29 EFT -- - -------------------------------------------------------------------------------------------------------------------------- Unemployment -- 92 92 9/14, 9/29 EFT -- - -------------------------------------------------------------------------------------------------------------------------- Income -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- Other: -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- Total Federal Taxes -- 229,731 229,731 -- - -------------------------------------------------------------------------------------------------------------------------- State and Local - -------------------------------------------------------------------------------------------------------------------------- Withholding -- 45,071 45,071 9/14, 9/29 EFT -- - -------------------------------------------------------------------------------------------------------------------------- Sales -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- Excise -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- Unemployment -- 932 932 9/14, 9/29 EFT -- - -------------------------------------------------------------------------------------------------------------------------- Real Property -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- Personal Property -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- Other: -- -- -- -- - -------------------------------------------------------------------------------------------------------------------------- Total State and Local -- 46,003 46,003 -- - -------------------------------------------------------------------------------------------------------------------------- Total Taxes -- 275,734 275,734 -- -- - --------------------------------------------------------------------------------------------------------------------------
SUMMARY OF UNPAID POSTPETITION DEBTS Attach aged listing of accounts payable
- --------------------------------------------------------------------------------------------------------------------------- Number of Days Past Due =========================================================================== Current 0-30 31-60 61-90 Over 90 Total - --------------------------------------------------------------------------------------------------------------------------- Accounts Payable -- -- -- -- -- -- - --------------------------------------------------------------------------------------------------------------------------- Wages Payable 19,657 -- -- -- -- 19,657 - --------------------------------------------------------------------------------------------------------------------------- Taxes Payable -- -- - --------------------------------------------------------------------------------------------------------------------------- Rent/Leases - Building -- - --------------------------------------------------------------------------------------------------------------------------- Rent/Leases - Equipment -- - --------------------------------------------------------------------------------------------------------------------------- Secured Debt/Adequate Protection Payments -- - --------------------------------------------------------------------------------------------------------------------------- Professional Fees -- -- 20,001 190,786 462,683 673,470 - --------------------------------------------------------------------------------------------------------------------------- Amounts Due to Insiders -- -- -- -- -- -- - --------------------------------------------------------------------------------------------------------------------------- Other: -- - --------------------------------------------------------------------------------------------------------------------------- Total Postpetition Debts 19,657 -- 20,001 190,786 462,683 693,127 - ---------------------------------------------------------------------------------------------------------------------------
FORM MOR-4 (9/99) Trenwick Group Ltc. Exhibit 99.2 Trenwick America Corporation Case No. 03-12635 (MFW) Debtor Reporting Period: September 2004 Listing of aged accounts payable Trenwick America Corporation As of September 30, 2004
Vendor Invoice Date Services Invoice Number Amount ------ ------------ -------- -------------- ------ Ernst & Young 5/17/2004 March expenses ERN231-02000 23,139.20 Ernst & Young 5/17/2004 March expenses ERN578-02000 5,784.80 Ernst & Young 8/18/2004 April Expenses ERN184-02000 18,420.00 Ernst & Young 8/18/2004 April Expenses ERN460-02000 4,605.00 Ashby & Geddes 5/17/2004 March expenses ASH647-02000 6,474.20 Ashby & Geddes 6/29/2004 April Expenses ASH472-02000 4,727.50 Dewey Ballantine 6/11/2004 March expenses DEW832-02000 83,220.50 Ben Branch 6/30/2004 March expenses BEN172-02000 1,729.20 Ben Branch 6/30/2004 April Expenses BEN250-02000 2,508.00 Hennigan, Bennett & Dorman, LLP 7/7/2004 March expenses HEN236-02000 236,068.79 Hennigan, Bennett & Dorman, LLP 7/7/2004 March expenses HEN534-02000 53,464.90 Young Conaway Stargatt & Taylor 7/7/2004 March expenses YOU123-02000 12,316.50 Young Conaway Stargatt & Taylor 8/18/2004 April Expenses YOU102-02000 10,224.50 --------------- 91 + days 462,683.09 --------------- Dewey Ballantine 7/27/2004 April - May Expenses DEW437-02000 43,777.95 Dewey Ballantine 9/15/2004 May Expenses DEW104-02000 104,943.46 Dewey Ballantine 9/15/2004 May Expenses DEW248-02000 24,839.60 Ashby & Geddes 7/7/2004 May Expenses ASH308-02000 3,082.40 Ashby & Geddes 8/18/2004 June Expenses ASH486-02000 4,869.20 Young Conaway Stargatt & Taylor 8/18/2004 May Expenses YOU480-02000 4,807.10 Young Conaway Stargatt & Taylor 8/18/2004 June Expenses YOU401-02000 4,017.90 Ben Branch 7/6/2004 May Expenses BEN448-02000 448.80 --------------- 61-90 days 190,786.41 --------------- Tina Smith, Esq. 9/30/2004 July 2004 TIN183-02000 1,831.12 Joann McNiff 8/18/2004 July 2004 JOA664-02000 664.00 Young Conaway Stargatt & Taylor 9/15/2004 July 2004 YOU137-02000 13,795.10 Young Conaway Stargatt & Taylor 9/15/2004 July 2004 YOU206-02000 2,060.50 Ben Branch 9/15/2004 July 2004 BEN132-02000 1,320.00 Ben Branch 9/15/2004 July 2004 BEN330-02000 330.00 --------------- 31-60 Days 20,000.72 --------------- --------------- Total Professional Fees $ 673,470.22 ---------------
MOR-4 AGING Trenwick Group Ltc. Exhibit 99.2 Trenwick America Corporation Case No. 03-12635 (MFW) Debtor Reporting Period: September 2004 ACCOUNTS RECEIVABLE RECONCILIATION AND AGING
- -------------------------------------------------------------------------------------- ------------ Accounts Receivable Reconciliation Amount - -------------------------------------------------------------------------------------- ------------ Total Accounts Receivable at the beginning of the reporting period 51,238,518 - -------------------------------------------------------------------------------------- ------------ + Amounts billed during the peiod 1,437,072 - -------------------------------------------------------------------------------------- ------------ - - Amounts collected during the peiod (2,054,781) - -------------------------------------------------------------------------------------- ------------ Total Accounts Receivable at the end of the reporting period 50,620,809 - -------------------------------------------------------------------------------------- ------------ - -------------------------------------------------------------------------------------- ------------ Accounts Receivable Aging Amount - -------------------------------------------------------------------------------------- ------------ 0 - 30 days old 1,434,201 - -------------------------------------------------------------------------------------- ------------ 31 - 60 days old -- - -------------------------------------------------------------------------------------- ------------ 61 - 90 days old -- - -------------------------------------------------------------------------------------- ------------ 91 + days old 60,839,937 - -------------------------------------------------------------------------------------- ------------ Total Accounts Receivable 62,274,138 - -------------------------------------------------------------------------------------- ------------ Amount considered uncollectible (Bad Debt) (11,653,329) - -------------------------------------------------------------------------------------- ------------ Accounts Receivable (Net) 50,620,809 - -------------------------------------------------------------------------------------- ------------
DEBTOR QUESTIONNAIRE
- -------------------------------------------------------------------------------------- ------------ Must be completed each month Yes No - -------------------------------------------------------------------------------------- ------------ 1. Have any assets been sold or transferred outside the normal course of business this reporting period? If yes, provide an explanation below. X - -------------------------------------------------------------------------------------- ------------ 2. Have any funds been disbursed from any account other than a debtor in possession account this reporting period? If yes, provide and explanation below. X - -------------------------------------------------------------------------------------- ------------ 3. Have all postpetition tax returns been timely filed? If no, provide an explanation below. X - -------------------------------------------------------------------------------------- ------------ 4. Are workers compensation, general liability and other necessary insurance coverages in effect? If no, provide an explanation below. X - -------------------------------------------------------------------------------------- ------------
FORM MOR-5 (9/99) EX-99.3 4 d61525_ex99-3.txt 09/04 MONTHLY OPERATING REPORT Trenwick Group Ltd. Exhibit 99.3 UNITED STATES BANKRUPTCY COURT _______________DISTRICT OF_______________ In re: LaSalle Re Holdings Limited Case No. 03-12637(MFW) Reporting Period: September 2004 MONTHLY OPERATING REPORT File with Court and submit copy to United States Trustee within 20 days after end of month. Submit copy of report to any official committee appointed in the case.
- --------------------------------------------------------------------------------------------------------------- Document Explanation Required Documents Form No. Attached Attached - --------------------------------------------------------------------------------------------------------------- Schedule of Cash Receipts and Disbursements MOR-1 N/A Bank Reconciliation (or copies of debtor's bank reconciliations) MOR-1 N/A Copies of bank statements N/A Cash disbursements journals N/A Statement of Operations MOR-2 Yes Balance Sheet MOR-3 Yes Status of Postpetition Taxes MOR-4 N/A Copies of IRS Form 6123 or payment receipt N/A Copies of tax returns filed during reporting period N/A Summary of Unpaid Postpetition Debts MOR-4 None Listing of aged accounts payable N/A Accounts Receivable Reconciliation and Aging MOR-5 None Debtor Questionnaire MOR-5 N/A - ---------------------------------------------------------------------------------------------------------------
I declare under penalty of perjury (28 U.S.C. Section 1746) that this report and the attached documents are true and correct to the best of of my knowledge and belief. /s/ Alan L. Hunte October 20, 2004 - ------------------------------------------ Date Signature of Debtor /s/ Alan L. Hunte October 20, 2004 - ------------------------------------------ Date Signature of Joint Debtor /s/ Alan L. Hunte October 20, 2004 - ------------------------------------------ Date Signature of Authorized Individual* Alan L. Hunte - ------------------------------------------ Printed Name of Authorized Individual* *Authorized individual must be an officer, director or shareholder if debtor is a corporation; a partner if debtor is a partnership; a manager or member if debtor is a limited liability company. Trenwick Group Ltd. Exhibit 99.3 LaSalle Re Holdings Limited Case No. 03-12637 (MFW) Debtor Reporting Period: September 2004 Statement of Operations (Income Statement)
- ---------------------------------------------------------------------------------------- Month Ended Cumulative REVENUES September 2004 Filing to Date - ---------------------------------------------------------------------------------------- Gross Revenues $ -- $ -- - ---------------------------------------------------------------------------------------- Less: Returns and Allowances -- -- - ---------------------------------------------------------------------------------------- Net Revenue $ -- $ -- - ---------------------------------------------------------------------------------------- COST OF GOODS SOLD - ---------------------------------------------------------------------------------------- Beginning Inventory -- -- - ---------------------------------------------------------------------------------------- Add: Purchases -- -- - ---------------------------------------------------------------------------------------- Add:Cost of Labor -- -- - ---------------------------------------------------------------------------------------- Add: Other costs (schedule attached) -- -- - ---------------------------------------------------------------------------------------- Less: Ending Inventory -- -- - ---------------------------------------------------------------------------------------- Cost of Goods Sold -- -- - ---------------------------------------------------------------------------------------- Gross Profit -- -- - ---------------------------------------------------------------------------------------- OPERATING EXPENSES - ---------------------------------------------------------------------------------------- Advertising -- -- - ---------------------------------------------------------------------------------------- Auto and Truck Expense -- -- - ---------------------------------------------------------------------------------------- Bad Debts -- -- - ---------------------------------------------------------------------------------------- Contributions -- -- - ---------------------------------------------------------------------------------------- Employee Benefits Programs -- -- - ---------------------------------------------------------------------------------------- Insider compensation* -- -- - ---------------------------------------------------------------------------------------- Insurance -- -- - ---------------------------------------------------------------------------------------- Management Fees/Bonuses -- -- - ---------------------------------------------------------------------------------------- Office Expense -- -- - ---------------------------------------------------------------------------------------- Pension & Profit-Sharing Plans -- -- - ---------------------------------------------------------------------------------------- Repairs and Maintenance -- -- - ---------------------------------------------------------------------------------------- Rent and Lease Expense -- -- - ---------------------------------------------------------------------------------------- Salaries/Commissions/Fees -- -- - ---------------------------------------------------------------------------------------- Supplies -- -- - ---------------------------------------------------------------------------------------- Taxes-Payroll -- -- - ---------------------------------------------------------------------------------------- Taxes-Real Estate -- -- - ---------------------------------------------------------------------------------------- Taxes-Other -- -- - ---------------------------------------------------------------------------------------- Travel and Entertainment -- -- - ---------------------------------------------------------------------------------------- Utilities -- -- - ---------------------------------------------------------------------------------------- Other (attach schedule) -- -- - ---------------------------------------------------------------------------------------- Total Operating Expenses Before Depreciation -- -- - ---------------------------------------------------------------------------------------- Depreciation/Depletion/Amortization -- -- - ---------------------------------------------------------------------------------------- Net Profit(Loss) Before Other Income & Expenses -- -- - ---------------------------------------------------------------------------------------- OTHER INCOME AND EXPENSES - ---------------------------------------------------------------------------------------- Other Income (attach schedule) 1,111,069 (4,923,338) - ---------------------------------------------------------------------------------------- Interest Expense -- - ---------------------------------------------------------------------------------------- Other Expense (attach schedule) -- -- - ---------------------------------------------------------------------------------------- Net Profit (Loss) Before Reorganization Items 1,111,069 (4,923,338) - ---------------------------------------------------------------------------------------- REORGANIZATION ITEMS - ---------------------------------------------------------------------------------------- Professional Fees -- -- - ---------------------------------------------------------------------------------------- U.S. Trustee Quarterly Fees -- -- - ---------------------------------------------------------------------------------------- Interest Earned on Accumulated Cash -- - ---------------------------------------------------------------------------------------- from Chapter 11 (see continuation sheet) -- -- - ---------------------------------------------------------------------------------------- Gain(Loss) from Sale of Equipment -- -- - ---------------------------------------------------------------------------------------- Other Reorganization Expenses (attach schedule) -- -- - ---------------------------------------------------------------------------------------- Total Reorganization Expenses -- -- - ---------------------------------------------------------------------------------------- Income Taxes -- -- - ---------------------------------------------------------------------------------------- Net Profit (Loss) $1,111,069 $(4,923,338) - ----------------------------------------------------------------------------------------
FORM MOR-2 Trenwick Group Ltd. Exhibit 99.3 LaSalle Re Holdings Limited Case No. 03-12637 (MFW) Debtor Reporting Period: September 2004 STATEMENT OF OPERATIONS - continuation sheet - ------------------------------------------------------------------------------- Month Ended Cumulative BREAKDOWN OF "OTHER" CATEGORY September 2004 Filing to Date - ------------------------------------------------------------------------------- Other Costs - ------------------------------------------------------------------------------- - ------------------------------------------------------------------------------- - ------------------------------------------------------------------------------- Other Operational Expenses - ------------------------------------------------------------------------------- Other Income - ------------------------------------------------------------------------------- Equity in Undistributed Income (Loss) of Unconsolidated Subsidiaries 1,111,069 (4,923,338) - ------------------------------------------------------------------------------- Total Other Income (Loss) $ 1,111,069 $ (4,923,338) - ------------------------------------------------------------------------------- Other Expenses - ------------------------------------------------------------------------------- - ------------------------------------------------------------------------------- Other Reorganization Expenses - ------------------------------------------------------------------------------- - ------------------------------------------------------------------------------- - ------------------------------------------------------------------------------- - ------------------------------------------------------------------------------- FORM MOR-2 Trenwick Group Ltd. Exhibit 99.3 LaSalle Re Holdings Limited Case No. 03-12637 (MFW) Debtor Reporting Period: September 2004 BALANCE SHEET
- -------------------------------------------------------------------------------------------------------------------- BOOK VALUE AT END OF BOOK VALUE ON ASSETS CURRENT REPORTING MONTH PETITION DATE - -------------------------------------------------------------------------------------------------------------------- CURRENT ASSETS - -------------------------------------------------------------------------------------------------------------------- Unrestricted Cash and Equivalents -- -- - -------------------------------------------------------------------------------------------------------------------- Restricted Cash and Cash Equivalents (see continuation sheet) -- - -------------------------------------------------------------------------------------------------------------------- Accounts Receivable (Net) -- -- - -------------------------------------------------------------------------------------------------------------------- Notes Receivable -- -- - -------------------------------------------------------------------------------------------------------------------- Inventories -- -- - -------------------------------------------------------------------------------------------------------------------- Prepaid Expenses -- -- - -------------------------------------------------------------------------------------------------------------------- Professional Retainers -- -- - -------------------------------------------------------------------------------------------------------------------- Other Current Assets (attach schedule) -- -- - -------------------------------------------------------------------------------------------------------------------- TOTAL CURRENT ASSETS $ -- $ -- - -------------------------------------------------------------------------------------------------------------------- PROPERTY AND EQUIPMENT - -------------------------------------------------------------------------------------------------------------------- Real Property and Improvements -- -- - -------------------------------------------------------------------------------------------------------------------- Machinery and Equipment -- -- - -------------------------------------------------------------------------------------------------------------------- Furniture, Fixtures and Office Equipment -- -- - -------------------------------------------------------------------------------------------------------------------- Leasehold Improvements -- -- - -------------------------------------------------------------------------------------------------------------------- Vehicles -- -- - -------------------------------------------------------------------------------------------------------------------- Less Accumulated Depreciation -- -- - -------------------------------------------------------------------------------------------------------------------- TOTAL PROPERTY & EQUIPMENT $ -- $ -- - -------------------------------------------------------------------------------------------------------------------- OTHER ASSETS - -------------------------------------------------------------------------------------------------------------------- Loans to Insiders* -- -- - -------------------------------------------------------------------------------------------------------------------- Other Assets (attach schedule) 35,312,873 49,900,000 - -------------------------------------------------------------------------------------------------------------------- TOTAL OTHER ASSETS $ 35,312,873 $ 49,900,000 - -------------------------------------------------------------------------------------------------------------------- - -------------------------------------------------------------------------------------------------------------------- TOTAL ASSETS $ 35,312,873 $ 49,900,000 ==================================================================================================================== - -------------------------------------------------------------------------------------------------------------------- BOOK VALUE AT END OF BOOK VALUE ON LIABILITIES AND OWNER EQUITY CURRENT REPORTING MONTH PETITION DATE - -------------------------------------------------------------------------------------------------------------------- LIABILITIES NOT SUBJECT TO COMPROMISE (Postpetition) - -------------------------------------------------------------------------------------------------------------------- Accounts Payable -- -- - -------------------------------------------------------------------------------------------------------------------- Taxes Payable (refer to FORM MOR-4) -- -- - -------------------------------------------------------------------------------------------------------------------- Wages Payable -- -- - -------------------------------------------------------------------------------------------------------------------- Notes Payable -- -- - -------------------------------------------------------------------------------------------------------------------- Rent/Leases - Building/Equipment -- -- - -------------------------------------------------------------------------------------------------------------------- Secured Debt/Adequate Protection Payments -- -- - -------------------------------------------------------------------------------------------------------------------- Professional Fees -- -- - -------------------------------------------------------------------------------------------------------------------- Amounts Due to Insiders* -- -- - -------------------------------------------------------------------------------------------------------------------- Other Postpetition Liabilities (attach schedule) -- -- - -------------------------------------------------------------------------------------------------------------------- TOTAL POSTPETITION LIABILITIES $ -- $ -- - -------------------------------------------------------------------------------------------------------------------- LIABILITIES SUBJECT TO COMPROMISE (Pre-Petition) - -------------------------------------------------------------------------------------------------------------------- Secured Debt -- -- - -------------------------------------------------------------------------------------------------------------------- Priority Debt -- -- - -------------------------------------------------------------------------------------------------------------------- Unsecured Debt -- 5,804,000 - -------------------------------------------------------------------------------------------------------------------- TOTAL PRE-PETITION LIABILITIES $ -- $ 5,804,000 - -------------------------------------------------------------------------------------------------------------------- TOTAL LIABILITIES $ -- 5,804,000 - -------------------------------------------------------------------------------------------------------------------- OWNER EQUITY - -------------------------------------------------------------------------------------------------------------------- Capital Stock 95,432,000 95,432,000 - -------------------------------------------------------------------------------------------------------------------- Additional Paid-In Capital 307,914,000 307,914,000 - -------------------------------------------------------------------------------------------------------------------- Partners' Capital Account -- -- - -------------------------------------------------------------------------------------------------------------------- Owner's Equity Account -- -- - -------------------------------------------------------------------------------------------------------------------- Retained Earnings - Pre-Petition (358,939,000) (358,939,000) - -------------------------------------------------------------------------------------------------------------------- Retained Earnings - Post-Petition (4,923,338) -- - -------------------------------------------------------------------------------------------------------------------- Adjustments to Owner Equity (attach schedule) (4,170,789) (311,000) - -------------------------------------------------------------------------------------------------------------------- Post Petition Contributions (Distributions) (Draws) (attach schedule) -- -- - -------------------------------------------------------------------------------------------------------------------- NET OWNER EQUITY $ 35,312,873 $ 44,096,000 - -------------------------------------------------------------------------------------------------------------------- - -------------------------------------------------------------------------------------------------------------------- TOTAL LIABILITIES AND OWNERS' EQUITY $ 35,312,873 $ 49,900,000 ====================================================================================================================
FORM MOR-3 (9/99) Trenwick Group Ltd. Exhibit 99.3 LaSalle Re Holdings Limited Case No. 03-12637 (MFW) Debtor Reporting Period: September 2004 BALANCE SHEET - continuation sheet
- -------------------------------------------------------------------------------------- BOOK VALUE AT END OF BOOK VALUE ON ASSETS CURRENT REPORTING MONTH PETITION DATE - -------------------------------------------------------------------------------------- - -------------------------------------------------------------------------------------- OTHER ASSETS - -------------------------------------------------------------------------------------- Investment in Unconsolidated Subsidiaries 35,312,873 49,900,000 - -------------------------------------------------------------------------------------- TOTAL OTHER ASSETS $ 35,312,873 $ 49,900,000 - -------------------------------------------------------------------------------------- - -------------------------------------------------------------------------------------- ADJUSTMENT TO OWNER EQUITY - -------------------------------------------------------------------------------------- Equity in Subsidiary (9,974,789) (311,000) - -------------------------------------------------------------------------------------- Reverse preferred share dividend payable 5,804,000 -- - -------------------------------------------------------------------------------------- TOTAL ADJUSTMENTS TO OWNER EQUITY $ (4,170,789) $ (311,000) - --------------------------------------------------------------------------------------
FORM MOR-3 (9/99) EX-99.4 5 d61525_ex99-4.txt LIST OF NON-DEBTOR ENTITIES Exhibit 99.4 Trenwick Group Ltd. Trenwick Group Ltd. List of non-Debtor Entities Trenwick (Barbados) Ltd. Trenwick Services Inc. Trenwick America Reinsurance Corporation The Insurance Corporation of New York Chartwell Advisors Limited Canterbury Financial Group Inc. Trenwick Services Ltd. Trenwick Guaranty Insurance Company Ltd. LaSalle Re Limited LaSalle Re (Services) Limited LaSalle Re Corporate Capital Limited LaSalle Re (Barbados) Limited LaSalle (UK) Limited Trenwick UK Holdings Limited Trenwick Holdings Limited Trenwick Underwriting Limited Trenwick UK plc ISIS Consulting Inc. Bowman Loss Adjusters Ltd. Castle Members Agents Limited Archer Personal Lines Limited Castle Underwriting Holdings Limited Surveyors Direct Limited Archer Dedicated plc Adit Holdings Ltd. -----END PRIVACY-ENHANCED MESSAGE-----