EX-99.3 4 d65530_ex99-3.txt MONTHLY OPERATING REPORT Trenwick America Corporation Exhibit 99.3 UNITED STATES BANKRUPTCY COURT DISTRICT OF DELAWARE ---------- In re: Trenwick America Corporation Case No. 03-12635(MFW) ---------------------------- ------------- Reporting Period: August 2005 ----------- 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. REPORT INCLUDES INFORMATION FOR THE PERIOD FROM AUGUST 1 THROUGH AUGUST 15, 2005, THE EFFECTIVE DATE OF THE BANKRUPTCY PLAN -------------------------------------- --------------- Signature of Debtor Date -------------------------------------- --------------- Signature of Joint Debtor Date /s/ Joann McNiff 9/20/05 -------------------------------------- --------------- Signature of Authorized Individual* Date Joann McNiff -------------------------------------- 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 99.3 In re: Trenwick America Corporation Case No. 03-12635 (MFW) Schedule of Cash Receipts & Disbursements Reporting Period August 2005 August 1 - 15, 2005 Bank Accounts Operating Tax Other --------------------------- Cash - Beg of Month 5,491.05 N/A -- --------------------------- Receipts: Cash Sales -- -- -- Accounts Receivable -- -- -- Loans & Advances -- -- -- Sale of Assets -- -- -- Deposit / WT IN -- -- -- Other -- -- -- Fund Transfer (Vista MM Redemption) -- -- -- Intercompany Transfers (TASCO)* 94,402.71 -- -- --------------------------- Total Receipts 94,402.71 -- -- --------------------------- Disbursements: Sales, Use, & Other Tax -- -- -- Inventory Purchases -- -- -- Secured Rental / Leases -- -- -- Insurance -- -- -- Administrative -- -- -- Selling -- -- -- Other -- -- -- Transfers (InterCompany) -- -- -- Professional Fees (67,389.65) -- -- Court Costs -- -- -- --------------------------- Total Disbursements (67,389.65) -- -- --------------------------- Net Cash Flow 27,013.06 -- -- --------------------------- Cash: August 15, 2005 32,504.11 -- -- =========================== * Represents receipt of payment from Trenwick America Services Corporation on Note Receivable related to sale of fixed assets in October 2004 as approved by the Bankruptcy Court FORM MOR-1 Trenwick America Corporation Exhibit 99.3 Trenwick America Corporation Disbursements Log (Excludes Intercompany) August 1 - 15, 2005
Check / Wire Date Amount Vendor Name ==================================================================================== 2005-08-11 20,927.05 Ashby & Geddes 2005-08-11 23,786.03 Dewey Ballantine 2005-08-11 10,389.28 Hennigan, Bennett & Dorman LLP 2005-08-11 12,287.29 Young, Conaway, Stargatt & Taylor, LLP ----------- Total Checks 67,389.65 ----------- Total Disbursements $ 67,389.65 ============================================
FORM MOR-1 Trenwick America Corporation Exhibit 99.3 Trenwick America Corporation Case No. 03-12635 (MFW) ---------------------------- -------------- Debtor Reporting Period: August 2005 -------------- Statement of Operations (Income Statement)
========================================================================================= Cumulative REVENUES August 1 - 15, 2005 Filing to Date ========================================================================================= Gross Revenues $ -- $ 242,183 ----------------------------------------------------------------------------------------- Less: Returns and Allowances -- -- ========================================================================================= Net Revenue $ -- $ 242,183 ----------------------------------------------------------------------------------------- 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 -- 242,183 ----------------------------------------------------------------------------------------- OPERATING EXPENSES -- ----------------------------------------------------------------------------------------- Advertising -- -- ----------------------------------------------------------------------------------------- Auto and Truck Expense -- 1,061 ----------------------------------------------------------------------------------------- Bad Debts -- -- ----------------------------------------------------------------------------------------- Contributions -- (2,500) ----------------------------------------------------------------------------------------- Employee Benefits Programs 473 58,925 ----------------------------------------------------------------------------------------- Insider compensation* 833 1,010,557 ----------------------------------------------------------------------------------------- Insurance 5,084 114,108 ----------------------------------------------------------------------------------------- Management Fees/Bonuses ** -- (708,773) ----------------------------------------------------------------------------------------- Office Expense 241 98,850 ----------------------------------------------------------------------------------------- Pension & Profit-Sharing Plans 547 60,232 ----------------------------------------------------------------------------------------- Repairs and Maintenance 30 4,185 ----------------------------------------------------------------------------------------- Rent and Lease Expense 738 715,184 ----------------------------------------------------------------------------------------- Salaries/Commissions/Fees 3,790 678,723 ----------------------------------------------------------------------------------------- Supplies 187 98,520 ----------------------------------------------------------------------------------------- Taxes-Payroll 201 44,177 ----------------------------------------------------------------------------------------- Taxes-Real Estate 73 4,332 ----------------------------------------------------------------------------------------- Taxes-Other 11 7,060 ----------------------------------------------------------------------------------------- Travel and Entertainment -- 6,274 ----------------------------------------------------------------------------------------- Utilities 29 2,779 ----------------------------------------------------------------------------------------- Other (attach schedule) 1,794 5,333,376 ========================================================================================= Total Operating Expenses Before Depreciation 14,031 7,527,067 ----------------------------------------------------------------------------------------- Depreciation/Depletion/Amortization 832 305,234 ========================================================================================= Net Profit(Loss) Before Other Income & Expenses (14,862) (7,590,117) ----------------------------------------------------------------------------------------- OTHER INCOME AND EXPENSES -- ----------------------------------------------------------------------------------------- Other Income (attach schedule) (620,000) (105,760,365) ----------------------------------------------------------------------------------------- Interest Expense -- -- ----------------------------------------------------------------------------------------- Other Expense (attach schedule) -- -- ========================================================================================= Net Profit (Loss) Before Reorganization Items (634,862) (113,350,482) ----------------------------------------------------------------------------------------- REORGANIZATION ITEMS -- ----------------------------------------------------------------------------------------- Professional Fees -- -- ----------------------------------------------------------------------------------------- U.S. Trustee Quarterly Fees -- -- ----------------------------------------------------------------------------------------- Interest Earned on Accumulated Cash -- -- ----------------------------------------------------------------------------------------- from Chapter 11 (see continuation sheet) 4,238 135,374 ----------------------------------------------------------------------------------------- Gain(Loss) from Sale of Equipment -- (543,353) ----------------------------------------------------------------------------------------- Other Reorganization Expenses (attach schedule) 50,806 6,980,384 ========================================================================================= Total Reorganization Expenses (46,568) (7,388,363) ----------------------------------------------------------------------------------------- Income Taxes -- (169,855) ========================================================================================= Net Profit (Loss) $(681,431) $(120,568,990) =========================================================================================
* Insiders represent members of the Runoff Management Team. The Trenwick group's U.S. operations currently have an additional 28 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 99.3 Trenwick America Corporation Case No. 03-12635 (MFW) ---------------------------- -------------- Debtor Reporting Period: August 2005 -------------- STATEMENT OF OPERATIONS - continuation sheet ================================================================================ Cumulative BREAKDOWN OF "OTHER" CATEGORY August 1 - 15, 2005 Filing to Date ================================================================================ -------------------------------------------------------------------------------- Other Operational Expenses -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Recruiting & Relocation -- 2,951 -------------------------------------------------------------------------------- Legal Fees -- 13,811 -------------------------------------------------------------------------------- Audit Fees -- (26,530) -------------------------------------------------------------------------------- Accounting & Tax Fees -- 46,654 -------------------------------------------------------------------------------- Board Related -- 46,458 -------------------------------------------------------------------------------- Other Fees 1,345 5,185,157 -------------------------------------------------------------------------------- Data Processing 330 51,722 -------------------------------------------------------------------------------- Seminars & Continuing Education 72 7,588 -------------------------------------------------------------------------------- Dues & Subscriptions 47 5,564 -------------------------------------------------------------------------------- TOTAL OTHER OPERATIONAL EXPENSES $ 1,794 $ 5,333,376 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Other Income -------------------------------------------------------------------------------- ================================================================================ Equity in Undistributed Income (Loss) of Unconsolidated Subsidiaries*** (620,000) (110,568,995) -------------------------------------------------------------------------------- TOTAL OTHER INCOME $(620,000) $(110,568,995) -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Other Reorganization Expenses -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Bankruptcy Related Fees 50,806 6,980,384 -------------------------------------------------------------------------------- TOTAL OTHER REORGANIZATION EXPENSES $ 50,806 $ 6,980,384 -------------------------------------------------------------------------------- ================================================================================ *** The Company is in the process of finalizing financial results for the month ended August 2005 in accordance with statutory reporting timetables, material changes may occur. FORM MOR-2 Trenwick America Corporation Exhibit 99.3 Trenwick America Corporation Case No. 03-12635 (MFW) ---------------------------- -------------- Debtor Reporting Period: August 2005 -------------- BALANCE SHEET
------------------------------------------------------------------------------------------------------------------------ BOOK VALUE AT BOOK VALUE ON ASSETS AUGUST 15, 2005 PETITION DATE ------------------------------------------------------------------------------------------------------------------------ CURRENT ASSETS ------------------------------------------------------------------------------------------------------------------------ Unrestricted Cash and Equivalents 3,052,175 4,532,566 ------------------------------------------------------------------------------------------------------------------------ Restricted Cash and Cash Equivalents (see continuation sheet) -- -- ------------------------------------------------------------------------------------------------------------------------ Accounts Receivable (Net) 49,176,261 48,745,299 ------------------------------------------------------------------------------------------------------------------------ Notes Receivable 1,961,612 -- ------------------------------------------------------------------------------------------------------------------------ Inventories -- -- ------------------------------------------------------------------------------------------------------------------------ Prepaid Expenses 22,667 503,054 ------------------------------------------------------------------------------------------------------------------------ Professional Retainers 1,000 10,000 ------------------------------------------------------------------------------------------------------------------------ Other Current Assets (attach schedule) 340,703 327,755 ------------------------------------------------------------------------------------------------------------------------ TOTAL CURRENT ASSETS $ 54,554,418 $ 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* -- 266,900 ------------------------------------------------------------------------------------------------------------------------ Other Assets (attach schedule) 129,725,049 249,660,381 ------------------------------------------------------------------------------------------------------------------------ TOTAL OTHER ASSETS $ 129,725,049 $ 249,927,281 ------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------ TOTAL ASSETS $ 184,279,467 $ 312,822,267 ======================================================================================================================== ------------------------------------------------------------------------------------------------------------------------ BOOK VALUE AT BOOK VALUE ON LIABILITIES AND OWNER EQUITY AUGUST 15, 2005 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 237,193 -- ------------------------------------------------------------------------------------------------------------------------ Amounts Due to Insiders* -- -- ------------------------------------------------------------------------------------------------------------------------ Other Postpetition Liabilities (attach schedule) 3,298,139 -- ------------------------------------------------------------------------------------------------------------------------ TOTAL POSTPETITION LIABILITIES $ 3,535,331 $ -- ------------------------------------------------------------------------------------------------------------------------ LIABILITIES SUBJECT TO COMPROMISE (Pre-Petition) ------------------------------------------------------------------------------------------------------------------------ Secured Debt -- -- ------------------------------------------------------------------------------------------------------------------------ Priority Debt -- -- ------------------------------------------------------------------------------------------------------------------------ Unsecured Debt 288,386,386 289,648,446 ------------------------------------------------------------------------------------------------------------------------ TOTAL PRE-PETITION LIABILITIES $ 288,386,386 $ 289,648,446 ------------------------------------------------------------------------------------------------------------------------ TOTAL LIABILITIES 291,921,718 289,648,446 ------------------------------------------------------------------------------------------------------------------------ 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 (120,568,990) -- ------------------------------------------------------------------------------------------------------------------------ Adjustments to Owner Equity (attach schedule) (7,200,073) 3,047,008 ------------------------------------------------------------------------------------------------------------------------ Post Petition Contributions (Distributions) (Draws) (attach schedule) -- -- ------------------------------------------------------------------------------------------------------------------------ NET OWNER EQUITY $(107,642,251) $ 23,173,821 ------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------ TOTAL LIABILITIES AND OWNERS' EQUITY $ 184,279,467 $ 312,822,267 ========================================================================================================================
* Insiders represent members of the Runoff Management Team. The Trenwick group's U.S. operations currently have an additional 28 officers which were not included in this amount. FORM MOR-3 Trenwick America Corporation Exhibit 99.3 Trenwick America Corporation Case No. 03-12635 (MFW) ---------------------------- -------------- Debtor Reporting Period: August 2005 -------------- BALANCE SHEET - continuation sheet -------------------------------------------------------------------------------- BOOK VALUE AT BOOK VALUE ON ASSETS AUGUST 15, 2005 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** 128,415,458 244,859,636 -------------------------------------------------------------------------------- Miscellaneous Other Assets 764 3,602,213 -------------------------------------------------------------------------------- TOTAL OTHER ASSETS $ 129,725,049 $249,660,381 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- BOOK VALUE AT BOOK VALUE ON LIABILITIES AND OWNER EQUITY AUGUST 15, 2005 PETITION DATE -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- UNSECURED DEBTS (PRE-PETITION) -------------------------------------------------------------------------------- Accounts Payable 64,660 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) $ 288,386,386 $289,648,446 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- OTHER POSTPETITION LIABILITIES -------------------------------------------------------------------------------- Accrued Expenses 289,264 -- -------------------------------------------------------------------------------- Taxes Payable 2,400,441 -------------------------------------------------------------------------------- Due to Affiliates 608,433 -- -------------------------------------------------------------------------------- TOTAL OTHER POSTPETITION LIABILITIES $ 3,298,139 $ -- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- ADJUSTMENT TO OWNER EQUITY -------------------------------------------------------------------------------- Equity in Subsidiary (7,200,073) 3,047,008 -------------------------------------------------------------------------------- TOTAL ADJUSTMENT TO OWNER EQUITY $ (7,200,073) $ 3,047,008 ================================================================================ ** The Company is in the process of finalizing financial results for the month ended August 2005 in accordance with statutory reporting timetables, material changes may occur. FORM MOR-3 Trenwick America Corporation Exhibit 99.3 In re Trenwick America Corporation Case No. 03-12635 (MFW) ---------------------------- -------------- Debtor Reporting Period: August 2005 -------------- 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 -- 99,752 18,637 83,662 35,141 237,193 ------------------------------------------------------------------------------------------------------------------- Amounts Due to Insiders -- -- -- -- -- -- ------------------------------------------------------------------------------------------------------------------- Other: -- -- -- -- -- -- ------------------------------------------------------------------------------------------------------------------- Total Postpetition Debts -- 99,752 18,637 83,662 35,141 237,193 -------------------------------------------------------------------------------------------------------------------
FORM MOR-4 (9/99) Trenwick America Corporation Exhibit 99.3 Listing of Aged Accounts Payable Trenwick America Corporation As of August 15, 2005
Invoice Vendor Date Services Invoice Number Amount ------ ---- -------- -------------- ------ Lackey Hershman 3/1/2005 Mar-05 LAC100-02000 10,000.00 Dewey Ballantine 3/1/2005 Mar-05 DEW236-02000 2,367.80 Ashby & Geddes 3/1/2005 Mar-05 ASH195-02000 1,951.50 Hennigan, Bennett & Dorman LLP 3/1/2005 Mar-05 HEN292-02000 292.50 Young Conaway Stargatt & Taylor 3/1/2005 Mar-05-Apr-05 YOU185-02000 1,855.90 Ashby & Geddes 4/1/2005 Apr-05 ASH341-02000 3,411.20 Dewey Ballantine 4/1/2005 Apr-05 DEW422-02000 4,228.60 Hennigan, Bennett & Dorman LLP 4/1/2005 Apr-05 HEN103-02000 1,033.70 Lackey Hershman, LLP 4/1/2005 Apr-05 LACKE100-02000 10,000.00 ----------- 91 + days 35,141.20 =========== Ashby & Geddes 5/1/2005 May-05 ASH474-02000 4,749.00 Dewey Ballantine 5/1/2005 May-05 DEW2304-02000 23,048.20 Lackey Hershman, LLP 5/1/2005 May-05 LAC100-02000-May 05 10,000.00 Lackey Hershman, LLP 5/1/2005 May-05 LAC416-02000 41,624.20 Hennigan, Bennett & Dorman LLP 5/1/2005 May-05 HEN125-02000 1,258.50 Young Conaway Stargatt & Taylor 5/1/2005 May-05 YOU298-02000 2,982.20 ----------- 61-90 days 83,662.10 =========== Dewey Ballantine 6/1/2005 Jun-05 DEW571-02000 5,713.80 Ashby & Geddes 6/1/2005 Jun-05 ash105-02000 10,527.85 Ashby & Geddes 6/1/2005 Jun-05 ASH239-02000 2,395.50 ----------- 31-60 Days 18,637.15 =========== Ashby & Geddes 7/1/2005 Jul-05 ASH106-02000 10,686.26 Ashby & Geddes 7/1/2005 Jul-05 ASH247-02000 2,476.50 Dewey Ballantine 7/1/2005 Jul-05 DEW162-02000 16,297.27 Dewey Ballantine 7/1/2005 Jul-05 DEW390-02000 3,902.30 Lackey Hershman 7/1/2005 Jun-05 lac563-02000 56,389.96 Lackey Hershman 7/1/2005 Jun-05 lac100-02000-jn05 10,000.00 ----------- 0-30 days 99,752.29 =========== Total Accounts Payable $237,192.74
Trenwick America Corporation Exhibit 99.3 Trenwick America Corporation Case No. 03-12635 (MFW) ---------------------------- -------------- Debtor Reporting Period: August 2005 -------------- ACCOUNTS RECEIVABLE RECONCILIATION AND AGING ================================================================== ============ Accounts Receivable Reconciliation Amount ================================================================== ============ Total Accounts Receivable at the beginning of the reporting period 49,178,688 ------------------------------------------------------------------ ------------ + Amounts billed during the period -- ------------------------------------------------------------------ ------------ - Amounts collected during the period 2,427 ------------------------------------------------------------------ ------------ Total Accounts Receivable at the end of the reporting period 49,176,261 ------------------------------------------------------------------ ------------ ================================================================== ============ Accounts Receivable Aging Amount ================================================================== ============ 0 - 30 days old -- ------------------------------------------------------------------ ------------ 31 - 60 days old -- ------------------------------------------------------------------ ------------ 61 - 90 days old -- ------------------------------------------------------------------ ------------ 91 + days old 60,829,590 ------------------------------------------------------------------ ------------ Total Accounts Receivable 60,829,590 ------------------------------------------------------------------ ------------ Amount considered uncollectible (Bad Debt) (11,653,329) ------------------------------------------------------------------ ------------ Accounts Receivable (Net) 49,176,261 ------------------------------------------------------------------ ------------ 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)