SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
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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 13, 2002
Trenwick America Corporation
(Exact Name of Registrant as Specified in its Charter)
Delaware 0-31967 06-1087672
State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
One Canterbury Green
Stamford, Connecticut 06901
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code (203) 353-5500
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(Former Name or Former Address, if Changed Since Last Report)
Item 5. - Other Events
On November 13, 2002 Trenwick Group Ltd. ("Trenwick"), and its subsidiaries
Trenwick America Corporation, Trenwick Holdings Limited and LaSalle Re Holdings
Limited, entered into a Forbearance Agreement, dated as of November 11, 2002
(the "Forbearance Agreement"), with certain lending institutions party to the
Credit Agreement, dated as of November 24, 1999 and amended and restated as of
September 27, 2000, and JP Morgan Chase Bank, as Administrative Agent. In the
Forbearance Agreement, the letter of credit providers agreed to refrain from
enforcing their rights or remedies under the Credit Agreement until November 22,
2002, or earlier if there is another default under the Credit Agreement or the
Forbearance Agreement, a third party exercises any right of action against
Trenwick for a debt in excess of $5,000 or other material obligation or Trenwick
takes an action which the letter of credit providers reasonably consider to be
materially adverse to their interests. In consideration for the forbearance of
the letter of credit providers, Trenwick agreed, among other things, to refrain
from making certain payments or distributions and to facilitate a meeting of the
letter of credit providers and Lloyd's.
On November 14, 2002, Trenwick issued a press release announcing the
forbearance agreement. A copy of the press release is filed herewith as Exhibit
99.2 and is incorporated by reference herein.
Item 7. Financial Statements and Exhibits
(c) Exhibits
99.1 Forbearance Agreement, dated as of November 11, 2002, among Trenwick Group
Ltd. and its subsidiaries Trenwick America Corporation, Trenwick Holdings
Limited and LaSalle Re Holdings Limited, and certain lending institutions
party to the Credit Agreement, dated as of November 24, 1999 and amended
and restated as of September 27, 2000, and JP Morgan Chase Bank, as
Administrative Agent.
99.2 Press release of Trenwick Group Ltd. issued November 14, 2002
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SIGNATURE
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 hereunto duly authorized.
TRENWICK AMERICA CORPORATION
By: /s/ Stephen H. Binet
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Stephen H. Binet
President and
Chief Executive Officer
Dated: November 15, 2002
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EXHIBIT INDEX
Exhibit Description of Exhibit
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99.1 Forbearance Agreement, dated as of November 11, 2002, among Trenwick
Group Ltd. and its subsidiaries Trenwick America Corporation,
Trenwick Holdings Limited and LaSalle Re Holdings Limited, and
certain lending institutions party to the Credit Agreement, dated as
of November 24, 1999 and amended and restated as of September 27,
2000, and JP Morgan Chase Bank, as Administrative Agent.
99.2 Press release of Trenwick Group Ltd. issued November 14, 2002 .