EX-99.1 2 d61784_ex99-1.txt MONTHLY OPERATING REPORT Trenwick America Corporation Exhibit 99.1 UNITED STATES BANKRUPTCY COURT _______________DISTRICT OF_______________ In re: Trenwick America Corporation Case No. 03-12635(MFW) Reporting Period: November 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 December 20, 2004 ------------------------------------------ ----------------------- Signature of Debtor Date /s/ Alan L. Hunte December 20, 2004 ------------------------------------------ ----------------------- Signature of Joint Debtor Date /s/ Alan L. Hunte December 20, 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 America Corporation Exhibit 99.1 In re: Trenwick America Corporation Case No. 03-12635 (MFW) Schedule of Cash Receipts & Disbursements Reporting Period:November 2004
Bank Accounts Operating Payroll Tax Other ------------------------------------------------------ Cash - Beg of Month 835,271.82 35,331.89 NA -- ------------------------------------------------------ Receipts: Cash Sales -- -- -- -- Accounts Rec. -- -- -- -- Loans & Advances -- -- -- -- Sale of Assets -- -- -- -- Deposit/WT IN 223,325.29 -- -- -- Other 1,537.60 -- -- -- Fund Transfer(Vista MM Redemption) -- -- -- -- Transfers (Interco) 533,087.80 -- -- -- ------------------------------------------------------ Total Receipts 757,950.69 -- -- -- ------------------------------------------------------ Disbursements: Net Payroll -- -- -- Payroll Taxes -- -- -- -- Sales, Use, & Other Tax -- -- -- -- Inventory Purchases -- -- -- -- Secured Rental/Leases -- -- -- -- Insurance -- -- -- -- Administrative -- -- -- Selling -- -- -- -- Other -- -- -- -- Transfers (PR) -- -- -- -- Transfers (Interco)* (147,930.88) -- -- -- Professional Fees (28,060.70) -- -- -- Court Costs -- -- -- -- ------------------------------------------------------ Total Disbursements (175,991.58) -- -- -- ------------------------------------------------------ Net Cash Flow 581,959.11 -- -- -- ------------------------------------------------------ Cash: End of Month 1,417,230.93 35,331.89 -- -- ======================================================
* Amount includes $75,000 transferred to Trenwick Barbados related to appointment of external director as well as amounts paid to Trenwick America Services Corporation under the terms of the Administrative Services Agreement. FORM MOR-1 Trenwick America Corporation Exhibit 99.1 Trenwick America Corporation Bank Reconciliations Reporting Period: November 2004 The following bank accounts have been reconciled Operating: Location: JPMorganChase, NY ABA No. 021-000-021 Month End Book Balance $ 1,417,230.93 Payroll: Location: JPMorganChase, NY ABA No. 021-000-021 Month End Book Balance $ 35,331.89 FORM MOR-1 Trenwick America Corporation Exhibit 99.1 Trenwick America Corporation Disbursements Log (Excludes Intercompany) Month Ended November 30, 2004
Wire Date Amount Vendor Name ------------------------------ ------------ ----------------------------------------- 2004-11-04 75,000.00 Trenwick Barbados Check Date Amount Vendor Name ------------------------------ ------------ ----------------------------------------- 2004-11-05 92.32 ADP - Investor Communication Services 2004-11-05 2,871.66 CPT Group Inc 2004-11-12 24,925.72 Ashby & Geddes 2004-11-30 421.00 CT Corporation System 2004-11-10 (250.00) U.S. Trustee Program Payment Center ------------ Total Checks 28,060.70 ------------ Total November Disbursements $ 103,060.70 ------------------------------ ------------
FORM MOR-1 Trenwick America Corporation Exhibit 99.1 Trenwick America Corporation Case No. 03-12635 (MFW) ------------------------------------ -------------------- Debtor Reporting Period: November 2004 -------------------- Statement of Operations (Income Statement) -------------------------------------------------------------------------------- Month Ended Cumulative REVENUES November 2004 Filing to Date -------------------------------------------------------------------------------- Gross Revenues $ 83 $ 242,034 -------------------------------------------------------------------------------- Less: Returns and Allowances -- -- -------------------------------------------------------------------------------- Net Revenue $ 83 $ 242,034 -------------------------------------------------------------------------------- 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 83 242,034 -------------------------------------------------------------------------------- OPERATING EXPENSES -------------------------------------------------------------------------------- Advertising -- -- -------------------------------------------------------------------------------- Auto and Truck Expense 98 588 -------------------------------------------------------------------------------- Bad Debts -- -- -------------------------------------------------------------------------------- Contributions -- (2,500) -------------------------------------------------------------------------------- Employee Benefits Programs 2,074 48,075 -------------------------------------------------------------------------------- Insider compensation* 24,784 893,994 -------------------------------------------------------------------------------- Insurance 10,263 28,235 -------------------------------------------------------------------------------- Management Fees/Bonuses ** -- (708,772) -------------------------------------------------------------------------------- Office Expense 718 102,958 -------------------------------------------------------------------------------- Pension & Profit-Sharing Plans 785 41,649 -------------------------------------------------------------------------------- Repairs and Maintenance 89 3,413 -------------------------------------------------------------------------------- Rent and Lease Expense 1,387 703,238 -------------------------------------------------------------------------------- Salaries/Commissions/Fees 22,070 514,931 -------------------------------------------------------------------------------- Supplies 278 89,911 -------------------------------------------------------------------------------- Taxes-Payroll 1,776 29,532 -------------------------------------------------------------------------------- Taxes-Real Estate 140 3,104 -------------------------------------------------------------------------------- Taxes-Other 2 6,121 -------------------------------------------------------------------------------- Travel and Entertainment 278 4,680 -------------------------------------------------------------------------------- Utilities 64 2,232 -------------------------------------------------------------------------------- Other (attach schedule) 1,308 5,212,615 -------------------------------------------------------------------------------- Total Operating Expenses Before Depreciation 66,113 6,974,003 -------------------------------------------------------------------------------- Depreciation/Depletion/Amortization 1,773 290,887 -------------------------------------------------------------------------------- Net Profit(Loss) Before Other Income & Expenses (67,803) (7,022,856) -------------------------------------------------------------------------------- OTHER INCOME AND EXPENSES -------------------------------------------------------------------------------- Other Income (attach schedule) (843,043) (46,338,278) -------------------------------------------------------------------------------- Interest Expense -- -- -------------------------------------------------------------------------------- Other Expense (attach schedule) -- -- -------------------------------------------------------------------------------- Net Profit (Loss) Before Reorganization Items (910,846) (53,361,134) -------------------------------------------------------------------------------- REORGANIZATION ITEMS -------------------------------------------------------------------------------- Professional Fees -- -- -------------------------------------------------------------------------------- U.S. Trustee Quarterly Fees -- -- -------------------------------------------------------------------------------- Interest Earned on Accumulated Cash -------------------------------------------------------------------------------- from Chapter 11 (see continuation sheet) 4,857 71,827 -------------------------------------------------------------------------------- Gain(Loss) from Sale of Equipment -- (543,353) -------------------------------------------------------------------------------- Other Reorganization Expenses (attach schedule) 365,040 6,443,517 -------------------------------------------------------------------------------- Total Reorganization Expenses (360,183) (6,915,043) -------------------------------------------------------------------------------- Income Taxes -- (170,205) -------------------------------------------------------------------------------- Net Profit (Loss) $ (1,271,029) $(60,105,972) -------------------------------------------------------------------------------- * Insiders represent members of the Runoff Management Team. The Trenwick group's U.S. operations currently have an additional 24 officers which were not considered insiders for purposes of this disclosure. ** Represents amounts charged to Trenwick America Corporation's affiliates under the Administrative Services Agreement. FORM MOR-2 Trenwick America Corporation Exhibit 99.1 Trenwick America Corporation Case No. 03-12635 (MFW) ------------------------------------ -------------------- Debtor Reporting Period: November 2004 -------------------- STATEMENT OF OPERATIONS - continuation sheet -------------------------------------------------------------------------------- Month Ended Cumulative BREAKDOWN OF "OTHER" CATEGORY November 2004 Filing to Date -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Other Costs -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Other Operational Expenses -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Recruiting & Relocation -- 2,951 -------------------------------------------------------------------------------- Legal Fees 38 13,257 -------------------------------------------------------------------------------- Audit Fees -- (26,530) -------------------------------------------------------------------------------- Accounting & Tax Fees -- 46,654 -------------------------------------------------------------------------------- Other Fees -- 5,119,517 -------------------------------------------------------------------------------- Data Processing 878 45,407 -------------------------------------------------------------------------------- Seminars & Continuing Education 157 6,293 -------------------------------------------------------------------------------- Dues & Subscriptions 234 5,065 -------------------------------------------------------------------------------- TOTAL OTHER OPERATIONAL EXPENSES $ 1,308 $ 5,212,615 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Other Income -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Equity in Undistributed Income (Loss) of Unconsolidated Subsidiaries (843,043) (46,338,278) -------------------------------------------------------------------------------- TOTAL OTHER INCOME $ (843,043) $(46,338,278) -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Other Expenses -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Other Reorganization Expenses -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Bankruptcy Related Fees 365,040 6,443,517 -------------------------------------------------------------------------------- TOTAL OTHER REORGANIZATION EXPENSES $ 365,040 $ 6,443,517 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- FORM MOR-2 Trenwick America Corporation Exhibit 99.1 Trenwick America Corporation Case No. 03-12635 (MFW) ------------------------------------ -------------------- Debtor Reporting Period: November 2004 -------------------- BALANCE SHEET
---------------------------------------------------------------------------------------------------------- BOOK VALUE AT END OF BOOK VALUE ON ASSETS CURRENT REPORTING MONTH PETITION DATE ---------------------------------------------------------------------------------------------------------- CURRENT ASSETS ---------------------------------------------------------------------------------------------------------- Unrestricted Cash and Equivalents 4,032,630 4,532,566 ---------------------------------------------------------------------------------------------------------- Restricted Cash and Cash Equivalents (see continuation sheet) -- -- ---------------------------------------------------------------------------------------------------------- Accounts Receivable (Net) 49,140,880 48,745,299 ---------------------------------------------------------------------------------------------------------- Notes Receivable 3,082,462 -- ---------------------------------------------------------------------------------------------------------- Inventories -- -- ---------------------------------------------------------------------------------------------------------- Prepaid Expenses 40,417 503,054 ---------------------------------------------------------------------------------------------------------- Professional Retainers 1,000 10,000 ---------------------------------------------------------------------------------------------------------- Other Current Assets (attach schedule) 340,703 327,755 ---------------------------------------------------------------------------------------------------------- TOTAL CURRENT ASSETS $ 56,638,092 $ 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* 49,992 266,900 ---------------------------------------------------------------------------------------------------------- Other Assets (attach schedule) 192,110,960 249,660,381 ---------------------------------------------------------------------------------------------------------- TOTAL OTHER ASSETS $192,160,952 $ 249,927,281 ---------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------- TOTAL ASSETS $248,799,043 $ 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 434,505 -- ---------------------------------------------------------------------------------------------------------- Amounts Due to Insiders* -- -- ---------------------------------------------------------------------------------------------------------- Other Postpetition Liabilities (attach schedule) 4,209,574 -- ---------------------------------------------------------------------------------------------------------- TOTAL POSTPETITION LIABILITIES $ 4,644,078 $ -- ---------------------------------------------------------------------------------------------------------- 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 293,030,719 289,648,446 ---------------------------------------------------------------------------------------------------------- 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 (60,105,973) -- ---------------------------------------------------------------------------------------------------------- Adjustments to Owner Equity (attach schedule) (4,252,516) 3,047,008 ---------------------------------------------------------------------------------------------------------- Post Petition Contributions (Distributions) (Draws) (attach schedule) -- -- ---------------------------------------------------------------------------------------------------------- NET OWNER EQUITY $ (44,231,676) $ 23,173,821 ---------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------- TOTAL LIABILITIES AND OWNERS' EQUITY $ 248,799,043 $ 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 America Corporation Exhibit 99.1 Trenwick America Corporation Case No. 03-12635 (MFW) ------------------------------------ -------------------- Debtor Reporting Period: November 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 ------------------------------------------------------------------------------------------ Prepaid Deposits 75,000 -- ------------------------------------------------------------------------------------------ Investment in Subsidiaries 190,723,672 244,859,636 ------------------------------------------------------------------------------------------ Miscellaneous Other Assets 3,461 3,602,213 ------------------------------------------------------------------------------------------ TOTAL OTHER ASSETS $ 192,110,960 $ 249,660,381 ------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------ BOOK VALUE AT END OF BOOK VALUE ON LIABILITIES AND OWNER EQUITY CURRENT REPORTING MONTH PETITION DATE ------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------ UNSECURED DEBTS (PRE-PETITION) ------------------------------------------------------------------------------------------ Accounts Payable 64,914 42,517 ------------------------------------------------------------------------------------------ Accrued Expenses -- 1,290,790 ------------------------------------------------------------------------------------------ Interest Payable 12,728,025 12,728,025 ------------------------------------------------------------------------------------------ Taxes Payable 2,602,010 2,601,759 ------------------------------------------------------------------------------------------ Due to Affiliates 82,787,757 82,787,757 ------------------------------------------------------------------------------------------ Indebtedness 190,203,934 190,197,598 ------------------------------------------------------------------------------------------ TOTAL UNSECURED DEBTS (PRE-PETITION) $ 288,386,641 $ 289,648,446 ------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------ OTHER POSTPETITION LIABILITIES ------------------------------------------------------------------------------------------ Accrued Expenses 1,156,104 -- ------------------------------------------------------------------------------------------ Taxes Payable 2,400,441 -- ------------------------------------------------------------------------------------------ Due to Affiliates 653,029 -- ------------------------------------------------------------------------------------------ TOTAL OTHER POSTPETITION LIABILITIES $ 4,209,574 $ -- ------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------ ADJUSTMENT TO OWNER EQUITY ------------------------------------------------------------------------------------------ Equity in Subsidiary (4,252,516) 3,047,008 ------------------------------------------------------------------------------------------ TOTAL ADJUSTMENT TO OWNER EQUITY $ (4,252,516) $ 3,047,008 ------------------------------------------------------------------------------------------
FORM MOR-3 Trenwick America Corporation Exhibit 99.1 Trenwick America Corporation Case No. 03-12635 (MFW) ------------------------------------ -------------------- Debtor Reporting Period: November 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.
------------------------------------------------------------------------------------------------------------------------------ Amount Beginning Withheld or Check. No Ending Tax 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 -- -- 109,381 170,842 154,282 434,505 --------------------------------------------------------------------------------------------------------------------------- Amounts Due to Insiders -- -- -- -- -- -- --------------------------------------------------------------------------------------------------------------------------- Other: -- --------------------------------------------------------------------------------------------------------------------------- Total Postpetition Debts -- -- 109,381 170,842 154,282 434,505 ---------------------------------------------------------------------------------------------------------------------------
FORM MOR-4 (9/99) Trenwick America Corporation Exhibit 99.1 Listing of aged accounts payable Trenwick America Corporation As of November 30, 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 Ben Branch 8/1/2004 June 2004 DRB189-02000 1,386.00 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 ------------ 91 + days 154,281.73 ------------ 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 Dr. Ben Branch 8/1/2004 August 2004 DRB739-02000 739.20 Dr. Ben Branch 8/1/2004 August 2004 DRB189-02000 184.80 ------------ 61-90 days 170,841.77 ------------ Ashby & Geddes 9/1/2004 September 2004 ASH243-02000 24,306.80 Ashby & Geddes 9/1/2004 September 2004 ASH190-02000 1,900.14 Dewey Ballantine 9/1/2004 September 2004 DEW797-02000 79,715.20 Dewey Ballantine 9/1/2004 September 2004 DEW240-02000 2,402.97 Dr. Ben Branch 9/1/2004 September 2004 DRB105-02000 1,056.00 ------------ 31-60 Days 109,381.11 ------------ ------------ Total Professional Fee $ 434,504.61 ------------
MOR-4 AGING Trenwick America Corporation Exhibit 99.1 Trenwick America Corporation Case No. 03-12635 (MFW) ------------------------------------ -------------------- Debtor Reporting Period: November 2004 -------------------- ACCOUNTS RECEIVABLE RECONCILIATION AND AGING
--------------------------------------------------------------------------------- ---------------- Accounts Receivable Reconciliation Amount --------------------------------------------------------------------------------- ---------------- Total Accounts Receivable at the beginning of the reporting period 49,672,430 --------------------------------------------------------------------------------- ---------------- + Amounts billed during the peiod 204,794 --------------------------------------------------------------------------------- ---------------- - Amounts collected during the peiod (736,345) --------------------------------------------------------------------------------- ---------------- Total Accounts Receivable at the end of the reporting period 49,140,880 --------------------------------------------------------------------------------- ---------------- --------------------------------------------------------------------------------- ---------------- Accounts Receivable Aging Amount --------------------------------------------------------------------------------- ---------------- 0 - 30 days old 6,198 --------------------------------------------------------------------------------- ---------------- 31 - 60 days old -- --------------------------------------------------------------------------------- ---------------- 61 - 90 days old -- --------------------------------------------------------------------------------- ---------------- 91 + days old 60,788,011 --------------------------------------------------------------------------------- ---------------- Total Accounts Receivable 60,794,209 --------------------------------------------------------------------------------- ---------------- Amount considered uncollectible (Bad Debt) (11,653,329) --------------------------------------------------------------------------------- ---------------- Accounts Receivable (Net) 49,140,880 --------------------------------------------------------------------------------- ----------------
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)