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 Group Ltd.
(Exact Name of Registrant as Specified in its Charter)
Bermuda 1-16089 98-0232340
State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
LOM Building, 27 Reid Street
Hamilton, HM 11, Bermuda Not Applicable
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code (441) 292-4985
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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 GROUP LTD.
By: /s/ W. Marston Becker
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W. Marston Becker
Acting Chairman and
Acting 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