SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 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) - August 20, 2003
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TRENWICK AMERICA CORPORATION
(Exact name of registrant as specified in its charter)
Delaware 0-31967 06-1087672
(State or other jurisdiction (Commission File Number) (IRS Employer
of Incorporation) Identification No.)
One Canterbury Green
Stamford, Connecticut 06901
(Address of principal executive offices) (Zip Code)
(203)353-5500
(Registrant's telephone number, including area code)
None
(Former name or address, if changed since last report)
Item 3. Bankruptcy or Receivership.
On August 20, 2003, Trenwick Group Ltd. ("Trenwick"), LaSalle Re Holdings
Limited ("LaSalle Re Holdings") and Trenwick America Corporation ("Trenwick
America" and collectively with LaSalle Re Holdings and Trenwick, the "Debtors"),
each filed voluntary petitions for relief under Chapter 11 of Title 11 of the
United States Code (the "Bankruptcy Code") in the United States Bankruptcy Court
for the District of Delaware (the "Bankruptcy Court"). The proceedings are
consolidated for administrative purposes only under Case Nos. 03-12635 through
03-12637. The Debtors remain in possession of their assets and properties, and
continue to operate their businesses and manage their properties, as
"debtors-in-possession" under the jurisdiction of the Bankruptcy Court and in
accordance with the applicable provisions of the Bankruptcy Code.
Also on August 20, 2003, Trenwick and LaSalle Re Holdings 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 U.K., as Joint
Provisional Liquidators ("JPLs") in respect of Trenwick and LaSalle Re Holdings.
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. Neither KPMG nor the JPLs have audited the contents of this filing.
Trenwick's insurance company subsidiaries, Trenwick America Reinsurance
Corporation, The Insurance Corporation of New York, Dakota Specialty Insurance
Company and LaSalle Re Limited, all of which are in runoff, and its Lloyd's
operations are not subject to the proceedings in the Bankruptcy Court or the
Bermuda Court and their operations continue.
On August 20, 2003, Trenwick issued a press release relating to the
foregoing, a copy of which is attached hereto as Exhibit 99.1 and is
incorporated herein in its entirety by reference.
Item 5. Other Events and Required FD Disclosure.
On September 2, 2003, Anthony S. Brown, Robert M. DeMichele, Joseph D.
Sargent and Stephen R. Wilcox resigned from the Board of Directors of Trenwick.
The Board of Directors elected Alan L. Hunte and Timothy R. Graham to the Board
to serve until their successors are duly elected and qualified.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(c) Exhibits.
Exhibit No. Description
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99.1 Press Release of Trenwick Group Ltd. issued August 20,
2003.
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 AMERICA CORPORATION
By: /s/ Alan L. Hunte
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Name: Alan L. Hunte
Title: Executive Vice President
& Chief Financial Officer
Dated: September 4, 2003
EXHIBIT INDEX
Exhibit No. Description
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99.1 Press Release of Trenwick Group Ltd. issued August 20, 2003.