-----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, KBqL4+bBRh2lDW1NsEk1gU2KI2Z1Q4C9FwtT1w0Je+q7JBgMxoJjF/esw1vLjSIG 3JDePRz41CBCc3QDHp6oVA== 0001169232-04-005984.txt : 20041206 0001169232-04-005984.hdr.sgml : 20041206 20041206142606 ACCESSION NUMBER: 0001169232-04-005984 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 5 CONFORMED PERIOD OF REPORT: 20041122 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20041206 DATE AS OF CHANGE: 20041206 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: 041185985 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 d61530_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) - November 22, 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 File Number) (IRS Employer Incorporation) Identification No.) LOM Building, 27 Reid Street Hamilton, HM 11, Bermuda Not Applicable (Address of principal executive offices) (Zip Code) (441) 292-4985 (Registrant's telephone number, including area code) None (Former name or address, if changed since last report) Item 7.01. Regulation FD Disclosure A. On November 22, 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 October 31, 2004 and for the month ended October 31, 2004 and the period from August 20, 2003 to October 31, 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 October 2004 Monthly Operating Report of Trenwick Group Ltd. (in provisional liquidation), dated November 22, 2004. 99.2 October 2004 Monthly Operating Report of Trenwick America Corporation, dated November 22, 2004. 99.3 October 2004 Monthly Operating Report of LaSalle Re Holdings Limited (in provisional liquidation), dated November 22, 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 6, 2004 EXHIBIT INDEX Exhibit No. Description - ----------- ----------- 99.1. October 2004 Monthly Operating Report of Trenwick Group Ltd. (in provisional liquidation), dated November 22, 2004. 99.2. October 2004 Monthly Operating Report of Trenwick America Corporation, dated November 22, 2004. 99.3. October 2004 Monthly Operating Report of LaSalle Re Holdings Limited (in provisional liquidation), dated November 22, 2004 99.4. List of non-Debtor entities EX-99.1 2 d61530_ex99-1.txt 10/04 MONTHLY OPER REPORT OF TRENWICK GROUP LTD Trenwick Group Ltd. Exhibit 99.1 UNITED STATES BANKRUPTCY COURT _______________DISTRICT OF_______________ In re: Trenwick Group Ltd. Case No. 03-12636 (MFW) ------------------- -------------- Reporting Period: October 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. /s/ Alan L. Hunte November 22, 2004 - -------------------------------------- ----------------------- Signature of Debtor Date /s/ Alan L. Hunte November 22, 2004 - -------------------------------------- ----------------------- Signature of Joint Debtor Date /s/ Alan L. Hunte November 22, 2004 - -------------------------------------- ----------------------- Signature of Authorized Individual* Date 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: October 2004
Bank Accounts Operating Payroll Tax Other -------------------------------------------------------------- Cash - Beg of Month 46,404.86 -- 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 -- -- -- -- Court Costs (750.00) -- -- -- -------------------------------------------------------------- Total Disbursements: (750.00) -- -- -- -------------------------------------------------------------- Net Cash Flow: (750.00) -- -- -- -------------------------------------------------------------- Cash: End of Month 45,654.86 -- -- -- ==============================================================
FORM MOR-1 Trenwick Group Ltd. Exhibit 99.1 Trenwick Group Ltd Bank Reconciliations October 2004 The following Chase Accounts have been reconciled Operating: Location: JPMorganChase, NY ABA No. 021-000-021 Month End Book Balance $ 45,654.86 FORM MOR-1 Trenwick Group Ltd. Exhibit 99.1 Trenwick Group Ltd Disbursements October 2004 Date Amount Vendor Name - ----------- ---------- ----------------------------------------------- 10/27/2004 750.00 U.S. Trustee Fees ------ TOTAL 750.00 ------ FORM MOR-1 Trenwick Group Ltd. Exhibit 99.1 Trenwick Group Ltd. Case No. 03-12636 (MFW) ------------------------------- -------------- Debtor Reporting Period: October 2004 -------------- Statement of Operations (Income Statement)
======================================================================================================= Month Ended Cumulative REVENUES October 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 (24,007) 212,008 - ------------------------------------------------------------------------------------------------------- Insider compensation* -- 68,710 - ------------------------------------------------------------------------------------------------------- Insurance 1,103 456,794 - ------------------------------------------------------------------------------------------------------- Management Fees/Bonuses -- -- - ------------------------------------------------------------------------------------------------------- Office Expense -- 8,207 - ------------------------------------------------------------------------------------------------------- Pension & Profit-Sharing Plans -- -- - ------------------------------------------------------------------------------------------------------- Repairs and Maintenance -- -- - ------------------------------------------------------------------------------------------------------- Rent and Lease Expense -- -- - ------------------------------------------------------------------------------------------------------- Salaries/Commissions/Fees -- (75,192) - ------------------------------------------------------------------------------------------------------- Supplies -- 12,012 - ------------------------------------------------------------------------------------------------------- Taxes-Payroll -- -- - ------------------------------------------------------------------------------------------------------- Taxes-Real Estate -- -- - ------------------------------------------------------------------------------------------------------- Taxes-Other -- 53,375 - ------------------------------------------------------------------------------------------------------- Travel and Entertainment -- -- - ------------------------------------------------------------------------------------------------------- Utilities -- -- - ------------------------------------------------------------------------------------------------------- Other (attach schedule) -- 1,992,544 ======================================================================================================= Total Operating Expenses Before Depreciation (22,904) 2,741,980 - ------------------------------------------------------------------------------------------------------- Depreciation/Depletion/Amortization 127,984 1,860,456 ======================================================================================================= Net Profit(Loss) Before Other Income & Expenses (105,080) (5,169,658) - ------------------------------------------------------------------------------------------------------- OTHER INCOME AND EXPENSES - ------------------------------------------------------------------------------------------------------- Other Income (attach schedule) 13,347,438 (46,433,635) - ------------------------------------------------------------------------------------------------------- Interest Expense -- -- - ------------------------------------------------------------------------------------------------------- Other Expense (attach schedule) -- 33,099,059 ======================================================================================================= Net Profit (Loss) Before Reorganization Items 13,242,357 (84,702,353) - ------------------------------------------------------------------------------------------------------- REORGANIZATION ITEMS - ------------------------------------------------------------------------------------------------------- Professional Fees -- -- - ------------------------------------------------------------------------------------------------------- U.S. Trustee Quarterly Fees -- -- - ------------------------------------------------------------------------------------------------------- Interest Earned on Accumulated Cash - ------------------------------------------------------------------------------------------------------- from Chapter 11 (see continuation sheet) 308 (16,210) - ------------------------------------------------------------------------------------------------------- Gain(Loss) from Sale of Equipment -- -- - ------------------------------------------------------------------------------------------------------- Other Reorganization Expenses (attach schedule) 750 149,269 ======================================================================================================= Total Reorganization Expenses 442 165,479 - ------------------------------------------------------------------------------------------------------- Income Taxes -- -- ======================================================================================================= Net Profit (Loss) $ 13,241,915 $ (84,867,832) =======================================================================================================
* 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. 03-12636 (MFW) - ------------------------------ ------------------------ Debtor October 2004 ------------------------ STATEMENT OF OPERATIONS - continuation sheet
======================================================================================== Month Ended Cumulative BREAKDOWN OF "OTHER" CATEGORY October 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 13,347,438 (46,433,635) - ---------------------------------------------------------------------------------------- TOTAL OTHER INCOME $ 13,347,438 $(46,433,635) - ---------------------------------------------------------------------------------------- - ---------------------------------------------------------------------------------------- Other Expenses - ---------------------------------------------------------------------------------------- - ---------------------------------------------------------------------------------------- Loss on Sale of Trenwick International Ltd. 33,099,059 - ---------------------------------------------------------------------------------------- TOTAL OTHER EXPENSES $ -- $ 33,099,059 - ---------------------------------------------------------------------------------------- - ---------------------------------------------------------------------------------------- Other Reorganization Expenses - ---------------------------------------------------------------------------------------- - ---------------------------------------------------------------------------------------- Bankruptcy Related Fees 750 149,269 - ---------------------------------------------------------------------------------------- TOTAL OTHER REORGANIZATION EXPENSES $ 750 $ 149,269 - ---------------------------------------------------------------------------------------- ========================================================================================
FORM MOR-2 Trenwick Group Ltd. Exhibit 99.1 Trenwick Group Ltd. Case No. 03-12636 (MFW) - -------------------------------------- -------------- Debtor Reporting Period: October 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) 506,296 655,336 - ------------------------------------------------------------------------------------------------------------------------ Accounts Receivable (Net) 225,014 (591,090) - ------------------------------------------------------------------------------------------------------------------------ Notes Receivable -- -- - ------------------------------------------------------------------------------------------------------------------------ Inventories -- -- - ------------------------------------------------------------------------------------------------------------------------ Prepaid Expenses 13,239 1,088,137 - ------------------------------------------------------------------------------------------------------------------------ Professional Retainers 2,001,195 2,200,000 - ------------------------------------------------------------------------------------------------------------------------ Other Current Assets (attach schedule) -- 3,861 - ------------------------------------------------------------------------------------------------------------------------ TOTAL CURRENT ASSETS $ 2,745,744 $ 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) 108,255,744 220,135,876 - ------------------------------------------------------------------------------------------------------------------------ TOTAL OTHER ASSETS $ 108,255,744 $ 220,135,876 - ------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------ TOTAL ASSETS $ 111,001,488 $ 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 (84,867,832) -- - ------------------------------------------------------------------------------------------------------------------------ Adjustments to Owner Equity (attach schedule) (46,549,339) (19,935,762) - ------------------------------------------------------------------------------------------------------------------------ Post Petition Contributions (Distributions) (Draws) (attach schedule) -- -- - ------------------------------------------------------------------------------------------------------------------------ NET OWNER EQUITY $ (105,405,071) $ 6,640,326 - ------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------ TOTAL LIABILITIES AND OWNERS' EQUITY $ 111,001,488 $ 223,541,281 ========================================================================================================================
FORM MOR-3 Trenwick Group Ltd. Exhibit 99.1 Trenwick Group Ltd. Case No. 03-12636 (MFW) - ------------------------------- -------------- Debtor Reporting Period: October 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 106,833,817 215,156,938 - ---------------------------------------------------------------------------------------------------- Miscellaneous Other Assets 1,402,305 4,959,316 - ---------------------------------------------------------------------------------------------------- TOTAL OTHER ASSETS $ 108,255,744 $ 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 - ---------------------------------------------------------------------------------------------------- Indebtedness -- -- - ---------------------------------------------------------------------------------------------------- TOTAL UNSECURED DEBTS (PRE-PETITION) $ 216,406,559 $ 216,896,055 - ---------------------------------------------------------------------------------------------------- - ---------------------------------------------------------------------------------------------------- - ---------------------------------------------------------------------------------------------------- OTHER POSTPETITION LIABILITIES - ---------------------------------------------------------------------------------------------------- - ---------------------------------------------------------------------------------------------------- ADJUSTMENT TO OWNER EQUITY - ---------------------------------------------------------------------------------------------------- Deferred Compensation (170,954) (1,125,099) - ---------------------------------------------------------------------------------------------------- Equity in Subsidiary (46,378,385) (18,810,663) - ---------------------------------------------------------------------------------------------------- TOTAL ADJUSTMENT TO OWNER EQUITY $ (46,549,339) $ (19,935,762) - ----------------------------------------------------------------------------------------------------
FORM MOR-3 Trenwick Group Ltd. Exhibit 99.1 Trenwick Group Ltd. Case No. 03-12636 (MFW) - ---------------------------- -------------- Debtor Reporting Period: October 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 d61530_ex99-2.txt 10/04 MONTHLY OPER REPORT OF TRENWICK AMER CORP Trenwick Group Ltd. Exhibit 99.2 UNITED STATES BANKRUPTCY COURT _______________DISTRICT OF_______________ In re: Trenwick America Corporation Case No. 03-12635(MFW) ---------------------------- ------------- Reporting Period: October 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 N/A 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 November 22, 2004 - --------------------------------------- ---------------------- Signature of Debtor Date /s/ Alan L. Hunte November 22, 2004 - --------------------------------------- ---------------------- Signature of Joint Debtor Date /s/ Alan L. Hunte November 22, 2004 - --------------------------------------- ---------------------- Signature of Authorized Individual* Date 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 99.2 In re: Trenwick America Corporation Case No. 03-12635 (MFW) Schedule of Cash Receipts & Disbursements Reporting Period: October 2004
Bank Accounts Operating Payroll Tax Other -------------------------------------------------------------------- Cash - Beg of Month 2,646,363.75 35,331.89 NA -- -------------------------------------------------------------------- Receipts: Cash Sales -- -- -- -- Accounts Rec -- -- -- -- Loans & Advances -- -- -- -- Sale of Assets -- -- -- -- Deposit/WT IN 19,258.63 -- -- -- Other 1,117.00 -- -- -- Fund Transfer(Vista MM Redemption) 1,000,000.00 -- -- -- Transfers (Interco) 1,415,085.00 -- -- -- -------------------------------------------------------------------- Total Receipts 2,435,460.63 -- -- -- -------------------------------------------------------------------- Disbursements: Net Payroll -- -- -- Payroll Taxes -- -- -- -- Sales, Use, & Other Tax -- -- -- -- Inventory Purchases -- -- -- -- Secured Rental/Leases (150,301.90) -- -- -- Insurance -- -- -- -- Administrative (340,185.01) -- -- -- Selling -- -- -- -- Other (1.06) -- -- -- Transfers (PR) -- -- -- -- Transfers (Interco) (2,610,867.37) -- -- -- Professional Fees (1,145,197.22) -- -- -- Court Costs -- -- -- -- -------------------------------------------------------------------- Total Disbursements (4,246,552.56) -- -- -- -------------------------------------------------------------------- Net Cash Flow (1,811,091.93) -- -- -- -------------------------------------------------------------------- Cash: End of Month 835,271.82 35,331.89 -- -- ====================================================================
Trenwick Group Ltd. Exhibit 99.2 Trenwick America Corporation Bank Reconciliations Reporting Period: October 2004 The following bank accounts have been reconciled Operating: Location: JPMorganChase, NY ABA No. 021-000-021 Month End Book Balance $ 835,271.82 Payroll: Location: JPMorganChase, NY ABA No. 021-000-021 Month End Book Balance $ 35,331.89 FORM MOR-1 Trenwick Group Ltd. Exhibit 99.2 Trenwick America Corporation Disbursements Log (Excludes Intercompany) Month Ended October 31, 2004
Wire Date Amount Vendor Name ============================== ============== ============================================ 2004-10-01 150,301.90 Equity Office Properties, L.L.C. 2004-10-21 109,847.68 New York Life Benefit Services Co. -------------- Wire Total 260,149.58 Check Date Amount Vendor Name ============================== ============== ============================================ 2004-10-15 28,042.29 Ashby & Geddes 2004-10-15 348,836.19 Dewey Ballantine 2004-10-15 4,686.00 Dr. Ben S. Branch 2004-10-15 51,949.00 Ernst & Young LLP 2004-10-15 734,054.02 Hennigan, Bennett & Dorman LLP 2004-10-15 664.00 Joann McNiff 2004-10-15 1,831.12 Tina A. Smith, Esquire 2004-10-15 41,143.20 Young, Conaway, Stargatt & Taylor, LLP 2004-10-22 150,000.00 Aon Risk Services, Inc. of Colorado 2004-10-22 4,429.48 CPT Group Inc 2004-10-22 100.00 Federal Reserve Bank of Cleveland 2004-10-22 299.25 MCI 2004-10-22 1,000.00 New York Life Benefit Services Co. 2004-10-22 8,000.00 U.S. Trustee Program Payment Center 2004-10-26 250.00 U.S. Trustee Program Payment Center 2004-10-26 250.00 U.S. Trustee Program Payment Center -------------- Total Checks 1,375,534.55 -------------- Total October Disbursements $ 1,635,684.13 ==============
FORM MOR-1 Trenwick Group Ltd. Exhibit 99.2 Trenwick America Corporation Case No. 03-12635 (MFW) - --------------------------------------- -------------- Debtor Reporting Period: October 2004 -------------- Statement of Operations (Income Statement)
=========================================================================================== Month Ended Cumulative REVENUES October 2004 Filing to Date =========================================================================================== Gross Revenues $ 150 $ 241,951 - ------------------------------------------------------------------------------------------- Less: Returns and Allowances -- -- =========================================================================================== Net Revenue $ 150 $ 241,951 - ------------------------------------------------------------------------------------------- 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 150 241,951 - ------------------------------------------------------------------------------------------- OPERATING EXPENSES - ------------------------------------------------------------------------------------------- Advertising -- -- - ------------------------------------------------------------------------------------------- Auto and Truck Expense 112 490 - ------------------------------------------------------------------------------------------- Bad Debts -- -- - ------------------------------------------------------------------------------------------- Contributions -- (2,500) - ------------------------------------------------------------------------------------------- Employee Benefits Programs 2,234 46,001 - ------------------------------------------------------------------------------------------- Insider compensation* 24,703 869,210 - ------------------------------------------------------------------------------------------- Insurance 10,700 17,972 - ------------------------------------------------------------------------------------------- Management Fees/Bonuses ** 1,788 (708,772) - ------------------------------------------------------------------------------------------- Office Expense 52,304 102,240 - ------------------------------------------------------------------------------------------- Pension & Profit-Sharing Plans 812 40,864 - ------------------------------------------------------------------------------------------- Repairs and Maintenance 64 3,324 - ------------------------------------------------------------------------------------------- Rent and Lease Expense 5,166 701,851 - ------------------------------------------------------------------------------------------- Salaries/Commissions/Fees 22,001 492,861 - ------------------------------------------------------------------------------------------- Supplies 443 89,633 - ------------------------------------------------------------------------------------------- Taxes-Payroll 3,052 27,756 - ------------------------------------------------------------------------------------------- Taxes-Real Estate 140 2,964 - ------------------------------------------------------------------------------------------- Taxes-Other 14 6,119 - ------------------------------------------------------------------------------------------- Travel and Entertainment 1,236 4,402 - ------------------------------------------------------------------------------------------- Utilities 59 2,168 - ------------------------------------------------------------------------------------------- Other (attach schedule) 1,473 5,211,306 =========================================================================================== Total Operating Expenses Before Depreciation 126,301 6,907,889 - ------------------------------------------------------------------------------------------- Depreciation/Depletion/Amortization -- 289,114 =========================================================================================== Net Profit(Loss) Before Other Income & Expenses (126,151) (6,955,052) - ------------------------------------------------------------------------------------------- OTHER INCOME AND EXPENSES =========================================================================================== Other Income (attach schedule) 13,523,299 (45,495,235) - ------------------------------------------------------------------------------------------- Interest Expense -- -- - ------------------------------------------------------------------------------------------- Other Expense (attach schedule) -- -- - ------------------------------------------------------------------------------------------- Net Profit (Loss) Before Reorganization Items 13,397,148 (52,450,287) - ------------------------------------------------------------------------------------------- REORGANIZATION ITEMS - ------------------------------------------------------------------------------------------- Professional Fees -- -- - ------------------------------------------------------------------------------------------- U.S. Trustee Quarterly Fees -- -- - ------------------------------------------------------------------------------------------- Interest Earned on Accumulated Cash - ------------------------------------------------------------------------------------------- from Chapter 11 (see continuation sheet) 6,828 66,970 - ------------------------------------------------------------------------------------------- Gain(Loss) from Sale of Equipment (468,143) (543,353) - ------------------------------------------------------------------------------------------- Other Reorganization Expenses (attach schedule) 313,309 6,078,477 =========================================================================================== Total Reorganization Expenses (774,625) (6,554,861) - ------------------------------------------------------------------------------------------- Income Taxes -- (170,205) =========================================================================================== Net Profit (Loss) $ 12,622,523 $ (58,834,943) ===========================================================================================
* 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)/from Trenwick America Corporation's affiliates under the Administrative Services Agreement FORM MOR-2 Trenwick Group Ltd. Exhibit 99.2 Trenwick America Corporation Case No. 03-12635 (MFW) - ----------------------------------- -------------- Debtor Reporting Period: October 2004 -------------- STATEMENT OF OPERATIONS - continuation sheet
====================================================================================== Month Ended Cumulative BREAKDOWN OF "OTHER" CATEGORY October 2004 Filing to Date ====================================================================================== - -------------------------------------------------------------------------------------- Other Costs - -------------------------------------------------------------------------------------- - -------------------------------------------------------------------------------------- - -------------------------------------------------------------------------------------- - -------------------------------------------------------------------------------------- - -------------------------------------------------------------------------------------- Other Operational Expenses - -------------------------------------------------------------------------------------- - -------------------------------------------------------------------------------------- Recruiting & Relocation -- 2,951 - -------------------------------------------------------------------------------------- Legal Fees 39 13,219 - -------------------------------------------------------------------------------------- Audit Fees -- (26,530) - -------------------------------------------------------------------------------------- Accounting & Tax Fees -- 46,654 - -------------------------------------------------------------------------------------- Other Fees 4 5,119,517 - -------------------------------------------------------------------------------------- Data Processing 1,256 44,529 - -------------------------------------------------------------------------------------- Seminars & Continuing Education 31 6,136 - -------------------------------------------------------------------------------------- Dues & Subscriptions 144 4,831 - -------------------------------------------------------------------------------------- TOTAL OTHER OPERATIONAL EXPENSES $ 1,473 $ 5,211,306 - -------------------------------------------------------------------------------------- - -------------------------------------------------------------------------------------- Other Income - -------------------------------------------------------------------------------------- - -------------------------------------------------------------------------------------- Equity in Undistributed Income (Loss) of Unconsolidated Subsidiaries 13,523,299 (45,495,235) - -------------------------------------------------------------------------------------- TOTAL OTHER INCOME $ 13,523,299 $ (45,495,235) - -------------------------------------------------------------------------------------- - -------------------------------------------------------------------------------------- Other Expenses - -------------------------------------------------------------------------------------- - -------------------------------------------------------------------------------------- Other Reorganization Expenses - -------------------------------------------------------------------------------------- - -------------------------------------------------------------------------------------- Bankruptcy Related Fees 313,309 6,078,477 - -------------------------------------------------------------------------------------- TOTAL OTHER REORGANIZATION EXPENSES $ 313,309 $ 6,078,477 - -------------------------------------------------------------------------------------- ======================================================================================
FORM MOR-2 Trenwick Group Ltd. Exhibit 99.2 Trenwick America Corporation Case No. 03-12635 (MFW) - ----------------------------------- -------------- Debtor Reporting Period: October 2004 -------------- BALANCE SHEET
- ----------------------------------------------------------------------------------------------------------------------- BOOK VALUE AT END OF BOOK VALUE ON ASSETS CURRENT REPORTING MONTH PETITION DATE - ----------------------------------------------------------------------------------------------------------------------- CURRENT ASSETS - ----------------------------------------------------------------------------------------------------------------------- Unrestricted Cash and Equivalents 3,467,354 4,532,566 - ----------------------------------------------------------------------------------------------------------------------- Restricted Cash and Cash Equivalents (see continuation sheet) -- -- - ----------------------------------------------------------------------------------------------------------------------- Accounts Receivable (Net) 49,672,430 48,745,299 - ----------------------------------------------------------------------------------------------------------------------- Notes Receivable 3,281,059 -- - ----------------------------------------------------------------------------------------------------------------------- Inventories -- -- - ----------------------------------------------------------------------------------------------------------------------- Prepaid Expenses 50,521 503,054 - ----------------------------------------------------------------------------------------------------------------------- Professional Retainers 1,000 10,000 - ----------------------------------------------------------------------------------------------------------------------- Other Current Assets (attach schedule) 340,703 327,755 - ----------------------------------------------------------------------------------------------------------------------- TOTAL CURRENT ASSETS $ 56,813,066 $ 54,118,674 - ----------------------------------------------------------------------------------------------------------------------- PROPERTY AND EQUIPMENT - ----------------------------------------------------------------------------------------------------------------------- Real Property and Improvements -- -- - ----------------------------------------------------------------------------------------------------------------------- Machinery and Equipment -- -- - ----------------------------------------------------------------------------------------------------------------------- Furniture, Fixtures and Office Equipment -- 20,723,654 - ----------------------------------------------------------------------------------------------------------------------- Leasehold Improvements -- 3,485,693 - ----------------------------------------------------------------------------------------------------------------------- Vehicles -- -- - ----------------------------------------------------------------------------------------------------------------------- Less Accumulated Depreciation -- (15,433,035) - ----------------------------------------------------------------------------------------------------------------------- TOTAL PROPERTY & EQUIPMENT $ -- $ 8,776,312 - ----------------------------------------------------------------------------------------------------------------------- OTHER ASSETS - ----------------------------------------------------------------------------------------------------------------------- Loans to Insiders* 49,849 266,900 - ----------------------------------------------------------------------------------------------------------------------- Other Assets (attach schedule) 194,314,932 249,660,381 - ----------------------------------------------------------------------------------------------------------------------- TOTAL OTHER ASSETS $ 194,364,781 $ 249,927,281 - ----------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------- TOTAL ASSETS $ 251,177,847 $ 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 -- -- - ----------------------------------------------------------------------------------------------------------------------- Notes Payable -- -- - ----------------------------------------------------------------------------------------------------------------------- Rent/Leases - Building/Equipment -- -- - ----------------------------------------------------------------------------------------------------------------------- Secured Debt/Adequate Protection Payments -- -- - ----------------------------------------------------------------------------------------------------------------------- Professional Fees 347,739 -- - ----------------------------------------------------------------------------------------------------------------------- Amounts Due to Insiders* -- -- - ----------------------------------------------------------------------------------------------------------------------- Other Postpetition Liabilities (attach schedule) 3,968,236 -- - ----------------------------------------------------------------------------------------------------------------------- TOTAL POSTPETITION LIABILITIES $ 4,315,975 $ -- - ----------------------------------------------------------------------------------------------------------------------- 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 292,702,616 289,648,446 - ----------------------------------------------------------------------------------------------------------------------- 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 (58,834,943) -- - ----------------------------------------------------------------------------------------------------------------------- Adjustments to Owner Equity (attach schedule) (2,816,638) 3,047,008 - ----------------------------------------------------------------------------------------------------------------------- Post Petition Contributions (Distributions) (Draws) (attach schedule) -- -- - ----------------------------------------------------------------------------------------------------------------------- NET OWNER EQUITY $ (41,524,769) $ 23,173,821 - ----------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------- TOTAL LIABILITIES AND OWNERS' EQUITY $ 251,177,847 $ 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 Ltd. Exhibit 99.2 Trenwick America Corporation Case No. 03-12635 (MFW) - ----------------------------------- --------------- Debtor Reporting Period: October 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 193,002,593 244,859,636 - ------------------------------------------------------------------------------------------------------ Miscellaneous Other Assets 3,513 3,602,213 - ------------------------------------------------------------------------------------------------------ TOTAL OTHER ASSETS $ 194,314,932 $ 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 906,135 -- - ------------------------------------------------------------------------------------------------------ Taxes Payable 2,400,441 -- - ------------------------------------------------------------------------------------------------------ Due to Affiliates 661,660 -- - ------------------------------------------------------------------------------------------------------ TOTAL OTHER POSTPETITION LIABILITIES $ 3,968,236 $ -- - ------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------ ADJUSTMENT TO OWNER EQUITY - ------------------------------------------------------------------------------------------------------ Equity in Subsidiary (2,816,638) 3,047,008 - ------------------------------------------------------------------------------------------------------ TOTAL ADJUSTMENT TO OWNER EQUITY $ (2,816,638) $ 3,047,008 - ------------------------------------------------------------------------------------------------------
FORM MOR-3 Trenwick Group Ltd. Exhibit 99.2 In re Trenwick America Corporation Case No. 03-12635 (MFW) ---------------------------- -------------- Debtor Reporting period: October 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 Amount Tax Withheld or Check. No Ending Tax Liability Accrued Amount Paid Date Paid or EFT Liability ================================================================================================================================= Federal - --------------------------------------------------------------------------------------------------------------------------------- Withholding -- -- -- -- - --------------------------------------------------------------------------------------------------------------------------------- FICA-Employee -- -- -- -- - --------------------------------------------------------------------------------------------------------------------------------- FICA-Employer -- -- -- -- - --------------------------------------------------------------------------------------------------------------------------------- Unemployment -- -- -- -- - --------------------------------------------------------------------------------------------------------------------------------- Income -- -- -- -- - --------------------------------------------------------------------------------------------------------------------------------- Other: -- -- -- -- - --------------------------------------------------------------------------------------------------------------------------------- Total Federal Taxes -- -- -- -- - --------------------------------------------------------------------------------------------------------------------------------- State and Local - --------------------------------------------------------------------------------------------------------------------------------- Withholding -- -- -- -- - --------------------------------------------------------------------------------------------------------------------------------- Sales -- -- -- -- - --------------------------------------------------------------------------------------------------------------------------------- Excise -- -- -- -- - --------------------------------------------------------------------------------------------------------------------------------- Unemployment -- -- -- -- - --------------------------------------------------------------------------------------------------------------------------------- Real Property -- -- -- -- - --------------------------------------------------------------------------------------------------------------------------------- Personal Property -- -- -- -- - --------------------------------------------------------------------------------------------------------------------------------- Other: -- -- -- -- - --------------------------------------------------------------------------------------------------------------------------------- Total State and Local -- -- -- -- - --------------------------------------------------------------------------------------------------------------------------------- Total Taxes -- -- -- -- -- - ---------------------------------------------------------------------------------------------------------------------------------
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 -- -- -- -- -- -- - --------------------------------------------------------------------------------------------------------------------------------- Taxes Payable -- -- - --------------------------------------------------------------------------------------------------------------------------------- Rent/Leases - Building -- - --------------------------------------------------------------------------------------------------------------------------------- Rent/Leases - Equipment -- - --------------------------------------------------------------------------------------------------------------------------------- Secured Debt/Adequate Protection Payments -- - --------------------------------------------------------------------------------------------------------------------------------- Professional Fees -- -- 194,843 56,295 96,601 347,739 - --------------------------------------------------------------------------------------------------------------------------------- Amounts Due to Insiders -- -- -- -- -- -- - --------------------------------------------------------------------------------------------------------------------------------- Other: -- - --------------------------------------------------------------------------------------------------------------------------------- Total Postpetition Debts -- -- 194,843 56,295 96,601 347,739 - ---------------------------------------------------------------------------------------------------------------------------------
FORM MOR-4 (9/99) Trenwick Group Ltd. Exhibit 99.2 Listing of aged accounts payable Trenwick America Corporation As of October 31, 2004
Vendor Invoice Date Services Invoice Number Amount ------ ------------ -------- -------------- ------ Ashby & Geddes 8/18/2004 June 2004 ASH486-02000 4,869.20 Young Conaway Stargatt & Taylor 8/18/2004 June 2004 YOU401-02000 4,017.90 Dewey Ballantine 10/14/2004 June 2004 DEW310-02000 31,049.50 Hennigan, Bennett & Dorman, LLP 10/18/2004 June 2004 HEN455-02000 45,526.91 Hennigan, Bennett & Dorman, LLP 10/18/2004 June 2004 HEN111-02000 11,137.10 ------------ 91 + days 96,600.61 ------------ Ashby & Geddes 10/14/2004 July 2004 ASH327-02000 3,270.70 Dewey Ballantine 10/14/2004 July 2004 DEW221-02000 22,186.10 Hennigan, Bennett & Dorman, LLP 9/13/2004 July 2004 HEN229-02000 22,909.22 Hennigan, Bennett & Dorman, LLP 9/13/2004 July 2004 HEN421-02000 4,218.60 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 ------------ 61-90 days 56,295.12 ------------ Ashby & Geddes 10/14/2004 August 2004 ASH249-02000 24,925.72 Ashby & Geddes 10/14/2004 August 2004 ASH541-02000 5,414.10 Dewey Ballantine 10/14/2004 August 2004 DEW977-02000 97,702.98 Dewey Ballantine 10/14/2004 August 2004 DEW239-02000 23,902.20 Hennigan, Bennett & Dorman, LLP 10/18/2004 August 2004 HEN343-02000 34,380.39 Hennigan, Bennett & Dorman, LLP 10/18/2004 August 2004 HEN851-02000 8,518.10 ------------ 31-60 Days 194,843.49 ------------ ------------ Total Professional Fees $ 347,739.22 ------------
MOR-4 AGING Trenwick Group Ltd. Exhibit 99.2 Trenwick America Corporation Case No. 03-12635 (MFW) - -------------------------------- --------------- Debtor Reporting Period: October 2004 --------------- ACCOUNTS RECEIVABLE RECONCILIATION AND AGING
================================================================================ ============== Accounts Receivable Reconciliation Amount ================================================================================ ============== Total Accounts Receivable at the beginning of the reporting period 50,620,809 - -------------------------------------------------------------------------------- -------------- + Amounts billed during the peiod 537,748 - -------------------------------------------------------------------------------- -------------- - - Amounts collected during the peiod (1,486,127) - -------------------------------------------------------------------------------- -------------- Total Accounts Receivable at the end of the reporting period 49,672,430 - -------------------------------------------------------------------------------- -------------- ================================================================================ ============== Accounts Receivable Aging Amount ================================================================================ ============== 0 - 30 days old 537,748 - -------------------------------------------------------------------------------- -------------- 31 - 60 days old -- - -------------------------------------------------------------------------------- -------------- 61 - 90 days old -- - -------------------------------------------------------------------------------- -------------- 91 + days old 60,788,011 - -------------------------------------------------------------------------------- -------------- Total Accounts Receivable 61,325,759 - -------------------------------------------------------------------------------- -------------- Amount considered uncollectible (Bad Debt) (11,653,329) - -------------------------------------------------------------------------------- -------------- Accounts Receivable (Net) 49,672,430 - -------------------------------------------------------------------------------- --------------
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 - -------------------------------------------------------------------------------- --------------
October 7, 2004, the Debtor entered into an asset purchase agreement with Trenwick America Services Corporation ("TASCO"), under which it sold the majority of its fixed assets to TASCO in exchange for the book value of the fixed assets ($3,281,055). On October 15, 2004, the Debtor entered into a sale agreement with a third party for the sale of certain fixed assets with a book value of $155,467 in exchange for cash of $23,915. These transactions were both previously authorized by the Bankruptcy Court of the District of Delaware. FORM MOR-5 (9/99) EX-99.3 4 d61530_ex99-3.txt 10/04 MONTHLY OPER REPORT OF LASALLE RE HOLD LTD 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: October 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 November 22, 2004 - -------------------------------------- --------------------- Signature of Debtor Date /s/ Alan L. Hunte November 22, 2004 - -------------------------------------- --------------------- Signature of Joint Debtor Date /s Alan L. Hunte November 22, 2004 - -------------------------------------- --------------------- Signature of Authorized Individual* Date 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: October 2004 --------------- Statement of Operations (Income Statement)
====================================================================================================== Month Ended Cumulative REVENUES October 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) 730,916 (4,192,422) - ------------------------------------------------------------------------------------------------------ Interest Expense -- - ------------------------------------------------------------------------------------------------------ Other Expense (attach schedule) -- -- ====================================================================================================== Net Profit (Loss) Before Reorganization Items 730,916 (4,192,422) - ------------------------------------------------------------------------------------------------------ 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) $ 730,916 $ (4,192,422) ======================================================================================================
FORM MOR-2 Trenwick Group Ltd. Exhibit 99.3 LaSalle Re Holdings Limited Case No. 03-12637 (MFW) - --------------------------------- --------------- Debtor Reporting Period: October 2004 --------------- STATEMENT OF OPERATIONS - continuation sheet
======================================================================================================= Month Ended Cumulative BREAKDOWN OF "OTHER" CATEGORY October 2004 Filing to Date ======================================================================================================= - ------------------------------------------------------------------------------------------------------- Other Costs - ------------------------------------------------------------------------------------------------------- - ------------------------------------------------------------------------------------------------------- - ------------------------------------------------------------------------------------------------------- - ------------------------------------------------------------------------------------------------------- - ------------------------------------------------------------------------------------------------------- Other Operational Expenses - ------------------------------------------------------------------------------------------------------- - ------------------------------------------------------------------------------------------------------- Other Income - ------------------------------------------------------------------------------------------------------- - ------------------------------------------------------------------------------------------------------- Equity in Undistributed Income (Loss) of Unconsolidated Subsidiaries 730,916 (4,192,422) - ------------------------------------------------------------------------------------------------------- Total Other Income (Loss) $ 730,916 $ (4,192,422) - ------------------------------------------------------------------------------------------------------- - ------------------------------------------------------------------------------------------------------- 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: October 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) 35,861,107 49,900,000 - ------------------------------------------------------------------------------------------------------------------------------ TOTAL OTHER ASSETS $ 35,861,107 $ 49,900,000 - ------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------ TOTAL ASSETS $ 35,861,107 $ 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 (4,192,422) -- - ------------------------------------------------------------------------------------------------------------------------------ Adjustments to Owner Equity (attach schedule) (4,353,472) (311,000) - ------------------------------------------------------------------------------------------------------------------------------ Post Petition Contributions (Distributions) (Draws) (attach schedule) -- -- - ------------------------------------------------------------------------------------------------------------------------------ NET OWNER EQUITY $ 35,861,107 $ 44,096,000 - ------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------ TOTAL LIABILITIES AND OWNERS' EQUITY $ 35,861,107 $ 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: October 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 35,861,107 49,900,000 - ------------------------------------------------------------------------------------------------------------------- TOTAL OTHER ASSETS $ 35,861,107 $ 49,900,000 - ------------------------------------------------------------------------------------------------------------------- - ------------------------------------------------------------------------------------------------------------------- ADJUSTMENT TO OWNER EQUITY - ------------------------------------------------------------------------------------------------------------------- Equity in Subsidiary (10,157,472) (311,000) - ------------------------------------------------------------------------------------------------------------------- Reverse preferred share dividend payable 5,804,000 -- - ------------------------------------------------------------------------------------------------------------------- TOTAL ADJUSTMENTS TO OWNER EQUITY $ (4,353,472) $ (311,000) - -------------------------------------------------------------------------------------------------------------------
FORM MOR-3 (9/99) EX-99.4 5 d61530_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. Trenwick America Services Corporation -----END PRIVACY-ENHANCED MESSAGE-----