Exhibit 99.2
Trenwick Group Ltd.
UNITED STATES BANKRUPTCY COURT
___________DISTRICT OF____________
In re: Trenwick America Corporation Case No. 03-12635(MFW)
Reporting Period: September 2003
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.
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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 (Con't) Yes
Copies of bank statements Yes
Cash disbursements journals 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 Yes
Copies of tax returns filed during reporting period Yes
Summary of Unpaid Postpetition Debts MOR-4 Yes
Listing of aged accounts payable Yes
Accounts Receivable Reconciliation and Aging MOR-5 Yes
zDebtor Questionnaire MOR-5 Yes
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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 October 20, 2003
- --------------------------------------- --------------------------
Signature of Debtor Date
/s/ Alan L. Hunte October 20, 2003
- --------------------------------------- --------------------------
Signature of Joint Debtor Date
/s/ Alan L. Hunte October 20, 2003
- --------------------------------------- --------------------------
Signature of Authorized Individual* Date
Alan L. Hunte October 20, 2003
- --------------------------------------- --------------------------
Printed Name of Authorized Individual* Date
*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.
Exhibit 99.2
Trenwick Group Ltd.
In re: Trenwick America Corporation Case No. 03-12635 (MFW)
Schedule of Cash Receipts & Disbursements Reporting Period September 2003
Bank Accounts
Operating Payroll Tax Other
------------------------------------------------------------
Cash - Beg of Month 515,007.79 45,157.23 NA 4,102,258.04
------------------------------------------------------------
Receipts:
Cash Sales -- -- -- --
Accounts Rec -- -- -- --
Loans & Advances -- -- -- --
Sale of Assets -- -- -- --
Deposits 229,714.60 -- -- --
Other 349.45 (15,014.02) -- --
Transfers (Interco) 2,212,938.11 738,467.51 -- --
------------------------------------------------------------
Total Receipts 2,443,002.16 723,453.49 -- --
------------------------------------------------------------
Disbursements:
Net Payroll -- (444,796.77) -- --
Payroll Taxes -- (288,471.44) -- --
Sales, Use, & Other Tax -- -- -- --
Inventory Purchases -- -- -- --
Secured Rental/Leases (146,068.58) -- -- --
Insurance -- -- -- --
Administrative (312,092.86) -- -- --
Selling -- -- -- --
Other -- -- -- --
Transfers (PR) (738,467.51) -- -- --
Professional Fees -- -- -- --
Court Costs -- -- -- --
------------------------------------------------------------
Total Disbursements (1,196,628.95) (733,268.21) -- --
------------------------------------------------------------
Net Cash Flow 1,246,373.21 (9,814.72) -- --
------------------------------------------------------------
Cash: End of Month 1,761,381.00 35,342.51 -- 4,102,258.04
============================================================
Other: Operating
Overnight Investment Interest Earned - $349.45
Exhibit 99.2
Trenwick Group Ltd.
Trenwick America Corporation
Bank Reconciliations
September 2003
The following bank accounts have been reconciled
Operating:
Location: JPMorganChase, NY
ABA No. 021-000-021
Month End
Book Balance $ 1,761,381.00
Vista/MM:
Location: JPMorganChase
Fund No. 357
Month End
Book Balance $ 9,535.88
Payroll: - bank statement not yet received
Independence Bank: reconciliation performed
Exhibit 99.2
Trenwick Group Ltd.
Trenwick America Corporation
Disbursements Log (Excludes Intercompany)
September 2003
Wires:
Date Amount Vendor
- --------------------------------------------------------------------------------
4-Sep $ 4,464.35 Eastern Benefit Systems, Inc
4-Sep 74,651.22 New York Life Benefit Services Co.
23-Sep 6,725.10 Bloomberg, LP
Checks:
Ck No. Amount Vendor
- --------------------------------------------------------------------------------
107502 $ 864.00 Advanced Solutions, Inc.
107503 888.50 BMC Solutions, Inc.
107504 678.40 Blondie's Treehouse, Inc
107505 864.00 Business Wire
107506 681.15 CDW Computer Centers, Inc
107507 251.25 Ceridian Employer Services
107508 6,681.15 Deman Application Development LLc
107509 256.50 Eastern Benefit Systems, Inc.
107510 146,068.58 Equity Office Properties, L.L.C.
107511 1,795.00 Executive Health EXAMS
107512 23.76 Federal Express Corporation
107513 212.35 Federal Express Corporation
107514 497.50 First Management Services, Inc.
107515 7,977.56 Liebert Global Services
107516 149.00 Penton Techonology Media
107517 3,737.00 Perfect Software
107518 1,200.00 Propark, Inc.
107519 7,918.40 Re Systems Group
107520 24.08 Royal Messenger Service
107521 127.98 Snet
107522 3,442.00 SoftLanding Systems
107523 9,236.00 Sungard Recovery Services Inc.
107524 425.00 TriTech Software Development Corporation
107525 1,000.00 Ceridian Employer Services
107526 117.00 Eastern Benefit Systems, Inc.
107527 2,751.00 Mercy College
107528 20.00 Perfect Software
107529 121.43 ADP - Investor Communication Services
107530 864.00 Advanced Solutions, Inc.
107531 545.64 Avalon/Ambassador Limousine
107532 1,987.50 Best Software, Inc
107533 6,333.50 CCH Incorporated
107534 1,315.85 CDW Computer Centers, Inc
Exhibit 99.2
Trenwick Group Ltd.
107535 857.75 Ceridian Employer Services
107536 69.99 Computer Book Direct
107537 2,565.00 Deborah Aschheim
107538 688.76 Federal Express Corporation
107539 324.84 Ios Capital
107540 728.00 Joyce Van Lines, Inc.
107541 2,863.50 MCI
107542 225.00 Mail Delivery Service of Stamford, LLC
107543 725.02 Marks Bros. Stationers, Inc.
107544 8.94 Penton Techonology Media
107545 8,350.15 Propark, Inc.
107546 73.07 Skytel
107547 2,664.38 Temco Service Industries, Inc.
107548 72.85 Velocity Express
107549 30,000.00 Actuarial Risk Solutions
107550 76,595.49 Anthem BCBSCT
107551 880.89 BMW Financial Services
107552 245.66 Ceridian Employer Services
107553 67.71 Charlene Seon
107554 9,347.88 Delta Dental
107555 606.57 Federal Express Corporation
107556 355.85 Ios Capital
107557 1,266.97 Marks Bros. Stationers, Inc.
107558 190.00 Mary A. Pagoto
107559 51.88 Pitney Bowes
107560 1,984.00 Seagull Software Systems, Inc.
107561 1,544.93 Silvana Griffith
107562 379.00 Thompson Publishing Group, Inc.
107563 78.85 Velocity Express
107564 70.00 Brennan,John
107565 649.00 Catherine Homola
107566 782.16 Damaris Rosado
107567 255.16 Hammond,Noreen A.
107568 3,654.46 Hunte,Alan L.
107572 2,285.73 Kiernan,Kenneth F.
107573 265.00 Lock,Eugene R.
107574 1,531.05 Mary Burns
107575 140.64 O'Sullivan,Andrea
107576 143.69 Thomas,Richard R.
107577 2,571.56 Tyler Jr.,Stanlee C.
107578 2,571.56 Tyler Jr.,Stanlee C.
107579 1,376.56 Tyler Jr.,Stanlee C.
107580 377.60 AT&T
107581 170.30 Connecticut Telephone
107582 13.29 Snet
107583 2,595.00 TDWI World Conference
-------------
$ 372,320.77
Exhibit 99.2
Trenwick Group Ltd.
Trenwick America Corporation
Intercompany Transfers
September 2003
Transfer Transfer
From Date Amount To Purpose
- -------------------------------------------------------------------------------------------------------------------------------
Trenwick America Reinsurance Corp 22-Sep $978,293.71 Trenwick America Corp Settle 8-31-03 Interco Balance
The Insurance Corp of New York 22-Sep 134,840.11 Trenwick America Corp Settle 8-31-03 Interco Balance
The Insurance Corp of New York 22-Sep 110,864.61 Trenwick America Corp Settle 8-31-03 Interco Balance
LaSalle Re Limited 23-Sep 15,372.41 Trenwick America Corp Settle 8-31-03 Interco Balance
Trenwick America Reinsurance Corp 24-Sep 973,567.27 Trenwick America Corp Receipt of Tax Return Funds
Exhibit 99.2
Trenwick Group Ltd.
Trenwick America Corporation Case No. 03-12635 (MFW)
Debtor Reporting Period: September 2003
Statement of Operations
(Income Statement)
- ----------------------------------------------------------------------------------------------------------
Month Ended Cumulative
REVENUES September 2003 Filing to Date
- ----------------------------------------------------------------------------------------------------------
Gross Revenues $ 108,981 $ 107,701
- ----------------------------------------------------------------------------------------------------------
Less: Returns and Allowances -- --
- ----------------------------------------------------------------------------------------------------------
Net Revenue $ 108,981 $ 107,701
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COST OF GOODS SOLD
- ----------------------------------------------------------------------------------------------------------
Beginning Inventory -- --
- ----------------------------------------------------------------------------------------------------------
Add: Purchases -- --
- ----------------------------------------------------------------------------------------------------------
Add:Cost of Labor -- --
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Add: Other costs (schedule attached) -- --
- ----------------------------------------------------------------------------------------------------------
Less: Ending Inventory -- --
- ----------------------------------------------------------------------------------------------------------
Cost of Goods Sold -- --
- ----------------------------------------------------------------------------------------------------------
Gross Profit 108,981 107,701
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OPERATING EXPENSES
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Advertising -- --
- ----------------------------------------------------------------------------------------------------------
Auto and Truck Expense -- --
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Bad Debts -- --
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Contributions -- --
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Employee Benefits Programs 250 250
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Insider compensation* 67,698 80,144
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Insurance 4 5
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Management Fees/Bonuses 50,192 149,995
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Office Expense 703 12,259
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Pension & Profit-Sharing Plans 378 734
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Repairs and Maintenance 95 132
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Rent and Lease Expense 18,765 28,000
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Salaries/Commissions/Fees 385 927
- ----------------------------------------------------------------------------------------------------------
Supplies 1,622 1,784
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Taxes-Payroll 244 293
- ----------------------------------------------------------------------------------------------------------
Taxes-Real Estate -- --
- ----------------------------------------------------------------------------------------------------------
Taxes-Other 6,000 6,000
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Travel and Entertainment 2 4
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Utilities -- 3
- ----------------------------------------------------------------------------------------------------------
Other (attach schedule) 4,035 3,673,355
- ----------------------------------------------------------------------------------------------------------
Total Operating Expenses Before Depreciation 150,375 3,953,885
- ----------------------------------------------------------------------------------------------------------
Depreciation/Depletion/Amortization 45,452 63,049
- ----------------------------------------------------------------------------------------------------------
Net Profit(Loss) Before Other Income & Expenses (86,846) (3,909,233)
- ----------------------------------------------------------------------------------------------------------
OTHER INCOME AND EXPENSES
- ----------------------------------------------------------------------------------------------------------
Other Income (attach schedule) (16,950,138) (15,162,218)
- ----------------------------------------------------------------------------------------------------------
Interest Expense -- --
- ----------------------------------------------------------------------------------------------------------
Other Expense (attach schedule) -- --
- ----------------------------------------------------------------------------------------------------------
Net Profit (Loss) Before Reorganization Items (17,036,984) (19,071,451)
- ----------------------------------------------------------------------------------------------------------
REORGANIZATION ITEMS
- ----------------------------------------------------------------------------------------------------------
Professional Fees -- --
- ----------------------------------------------------------------------------------------------------------
U.S. Trustee Quarterly Fees -- --
- ----------------------------------------------------------------------------------------------------------
Interest Earned on Accumulated Cash --
from Chapter 11 (see continuation sheet) 4,520 12,156
- ----------------------------------------------------------------------------------------------------------
Gain(Loss) from Sale of Equipment -- --
- ----------------------------------------------------------------------------------------------------------
Other Reorganization Expenses (attach schedule) -- --
- ----------------------------------------------------------------------------------------------------------
Total Reorganization Expenses 4,520 12,156
- ----------------------------------------------------------------------------------------------------------
Income Taxes -- --
- ----------------------------------------------------------------------------------------------------------
Net Profit (Loss) $(17,032,465) $(19,059,295)
- ----------------------------------------------------------------------------------------------------------
Exhibit 99.2
Trenwick Group Ltd.
STATEMENT OF OPERATIONS - continuation sheet
================================================================================
Month Ended Cumulative
BREAKDOWN OF "OTHER" CATEGORY September 2003 Filing to Date
================================================================================
- --------------------------------------------------------------------------------
Other Costs
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Other Operational Expenses
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Audit Fees -- 28,754
- --------------------------------------------------------------------------------
Accounting & Tax Fees -- 44,516
- --------------------------------------------------------------------------------
Other Fees -- 3,594,254
- --------------------------------------------------------------------------------
Data Processing 3,958 5,730
- --------------------------------------------------------------------------------
Seminars & Continuing Education 76 100
- --------------------------------------------------------------------------------
Total Other Expenses 4,035 3,673,355
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Other Income
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Equity in Undistributed Loss of
Unconsolidated Subsidiaries (16,950,138) (15,162,218)
- --------------------------------------------------------------------------------
Total Other Income (16,950,138) (15,162,218)
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Other Expenses
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
-- --
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Other Reorganization Expenses
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
-- --
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
================================================================================
Exhibit 99.2
Trenwick Group Ltd.
Trenwick America Corporation Case No. 03-12635 (MFW)
Debtor Reporting Period: September 2003
BALANCE SHEET
- ------------------------------------------------------------------------------------------------------------------------------------
BOOK VALUE AT END OF BOOK VALUE ON
ASSETS CURRENT REPORTING MONTH PETITION DATE
- ------------------------------------------------------------------------------------------------------------------------------------
CURRENT ASSETS
- ------------------------------------------------------------------------------------------------------------------------------------
Unrestricted Cash and Equivalents -- 4,532,566
- ------------------------------------------------------------------------------------------------------------------------------------
Restricted Cash and Cash Equivalents (see continuation sheet) 5,812,025 --
- ------------------------------------------------------------------------------------------------------------------------------------
Accounts Receivable (Net) 50,932,523 48,745,299
- ------------------------------------------------------------------------------------------------------------------------------------
Notes Receivable -- --
- ------------------------------------------------------------------------------------------------------------------------------------
Inventories -- --
- ------------------------------------------------------------------------------------------------------------------------------------
Prepaid Expenses 118,464 503,054
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Professional Retainers 21,000 10,000
- ------------------------------------------------------------------------------------------------------------------------------------
Other Current Assets (attach schedule) 340,703 327,755
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TOTAL CURRENT ASSETS $ 57,224,715 $ 54,118,674
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PROPERTY AND EQUIPMENT
- ------------------------------------------------------------------------------------------------------------------------------------
Real Property and Improvements -- --
- ------------------------------------------------------------------------------------------------------------------------------------
Machinery and Equipment -- --
- ------------------------------------------------------------------------------------------------------------------------------------
Furniture, Fixtures and Office Equipment 20,723,654 20,723,654
- ------------------------------------------------------------------------------------------------------------------------------------
Leasehold Improvements 3,485,693 3,485,693
- ------------------------------------------------------------------------------------------------------------------------------------
Vehicles -- --
- ------------------------------------------------------------------------------------------------------------------------------------
Less Accumulated Depreciation (16,103,278) (15,433,035)
- ------------------------------------------------------------------------------------------------------------------------------------
TOTAL PROPERTY & EQUIPMENT $ 8,106,069 $ 8,776,312
- ------------------------------------------------------------------------------------------------------------------------------------
OTHER ASSETS
- ------------------------------------------------------------------------------------------------------------------------------------
Loans to Insiders* 257,507 266,900
- ------------------------------------------------------------------------------------------------------------------------------------
Other Assets (attach schedule) 248,633,709 249,660,381
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TOTAL OTHER ASSETS $ 248,891,216 $ 249,927,281
- ------------------------------------------------------------------------------------------------------------------------------------
TOTAL ASSETS $ 314,222,000 $ 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 64,191 --
- ------------------------------------------------------------------------------------------------------------------------------------
Taxes Payable (refer to FORM MOR-4) -- --
- ------------------------------------------------------------------------------------------------------------------------------------
Wages Payable 68,598 --
- ------------------------------------------------------------------------------------------------------------------------------------
Notes Payable -- --
- ------------------------------------------------------------------------------------------------------------------------------------
Rent/Leases - Building/Equipment -- --
- ------------------------------------------------------------------------------------------------------------------------------------
Secured Debt/Adequate Protection Payments -- --
- ------------------------------------------------------------------------------------------------------------------------------------
Professional Fees -- --
- ------------------------------------------------------------------------------------------------------------------------------------
Amounts Due to Insiders* -- --
- ------------------------------------------------------------------------------------------------------------------------------------
Other Postpetition Liabilities (attach schedule) 606,054 --
- ------------------------------------------------------------------------------------------------------------------------------------
TOTAL POSTPETITION LIABILITIES $ 738,843 $ --
- ------------------------------------------------------------------------------------------------------------------------------------
LIABILITIES SUBJECT TO COMPROMISE (Pre-Petition)
- ------------------------------------------------------------------------------------------------------------------------------------
Secured Debt -- --
- ------------------------------------------------------------------------------------------------------------------------------------
Priority Debt -- --
- ------------------------------------------------------------------------------------------------------------------------------------
Unsecured Debt 291,234,816 289,648,446
- ------------------------------------------------------------------------------------------------------------------------------------
TOTAL PRE-PETITION LIABILITIES $ 291,234,816 $ 289,648,446
- ------------------------------------------------------------------------------------------------------------------------------------
TOTAL LIABILITIES $ 291,973,659 $ 289,648,446
- ------------------------------------------------------------------------------------------------------------------------------------
OWNER EQUITY
- ------------------------------------------------------------------------------------------------------------------------------------
Capital Stock 100 100
- ------------------------------------------------------------------------------------------------------------------------------------
Additional Paid-In Capital 298,877,085 298,877,085
- ------------------------------------------------------------------------------------------------------------------------------------
Partners' Capital Account -- --
- ------------------------------------------------------------------------------------------------------------------------------------
Owner's Equity Account -- --
- ------------------------------------------------------------------------------------------------------------------------------------
Retained Earnings - Pre-Petition (278,750,372) (278,750,372)
- ------------------------------------------------------------------------------------------------------------------------------------
Retained Earnings - Post-Petition (19,059,296) --
- ------------------------------------------------------------------------------------------------------------------------------------
Adjustments to Owner Equity (attach schedule) 21,180,824 3,047,008
- ------------------------------------------------------------------------------------------------------------------------------------
Post Petition Contributions (Distributions) (Draws) (attach schedule) -- --
- ------------------------------------------------------------------------------------------------------------------------------------
NET OWNER EQUITY $ 22,248,341 $ 23,173,821
- ------------------------------------------------------------------------------------------------------------------------------------
TOTAL LIABILITIES AND OWNERS' EQUITY $ 314,222,000 $ 312,822,267
====================================================================================================================================
Exhibit 99.2
Trenwick Group Ltd.
Trenwick America Corporation Case No. 03-12635 (MFW)
Debtor Reporting Period: September 30 2003
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
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
OTHER ASSETS
- ------------------------------------------------------------------------------------------------------------------------------------
Deferred Taxes Receivable 1,198,532 1,198,532
- ------------------------------------------------------------------------------------------------------------------------------------
Investment in Subsidiaries 247,435,043 244,859,636
- ------------------------------------------------------------------------------------------------------------------------------------
Miscellaneous Other Assets 134 3,602,213
- ------------------------------------------------------------------------------------------------------------------------------------
TOTAL OTHER ASSETS 248,633,709 249,660,381
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
BOOK VALUE AT END OF BOOK VALUE ON
LIABILITIES AND OWNER EQUITY CURRENT REPORTING MONTH PETITION DATE
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
UNSECURED DEBTS (PRE-PETITION)
- ------------------------------------------------------------------------------------------------------------------------------------
Accrued Expenses 1,462,716 1,333,307
- ------------------------------------------------------------------------------------------------------------------------------------
Interest Payable 12,728,025 12,728,025
- ------------------------------------------------------------------------------------------------------------------------------------
Taxes Payable 4,052,383 2,601,759
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Due to Affiliates 82,787,757 82,787,757
- ------------------------------------------------------------------------------------------------------------------------------------
Indebtedness 190,203,934 190,197,598
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TOTAL UNSECURED DEBTS (PRE-PETITION) 291,234,816 289,648,446
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- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
OTHER POSTPETITION LIABILITIES
- ------------------------------------------------------------------------------------------------------------------------------------
Due to Affiliates 606,054 --
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
ADJUSTMENT TO OWNER EQUITY
- ------------------------------------------------------------------------------------------------------------------------------------
Equity in Subsidiary 21,180,824 3,047,008
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Exhibit 99.2
Trenwick Group Ltd.
In re Trenwick America Corporation Case No. 03-12635 (MFW)
Debtor Reporting period: September 2003
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 -- 173,090 173,090 9/29,24,10 EFT --
- ---------------------------------------------------------------------------------------------------------------------------
FICA-Employee -- 31,909 31,909 9/29,24,10 EFT --
- ---------------------------------------------------------------------------------------------------------------------------
FICA-Employer -- 42,015 42,015 9/29,24,10 EFT --
- ---------------------------------------------------------------------------------------------------------------------------
Unemployment -- 142 142 9/29,24,10 EFT --
- ---------------------------------------------------------------------------------------------------------------------------
Income -- -- -- --
- ---------------------------------------------------------------------------------------------------------------------------
Other: -- -- -- --
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Total Federal Taxes -- 247,156 247,156 --
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State and Local
- ---------------------------------------------------------------------------------------------------------------------------
Withholding -- 39,750 39,750 9/29,24,10 EFT --
- ---------------------------------------------------------------------------------------------------------------------------
Sales -- -- -- --
- ---------------------------------------------------------------------------------------------------------------------------
Excise -- -- -- --
- ---------------------------------------------------------------------------------------------------------------------------
Unemployment -- 1,566 1,566 9/29,24,10 EFT --
- ---------------------------------------------------------------------------------------------------------------------------
Real Property -- -- -- --
- ---------------------------------------------------------------------------------------------------------------------------
Personal Property -- -- -- --
- ---------------------------------------------------------------------------------------------------------------------------
Other: -- -- -- --
- ---------------------------------------------------------------------------------------------------------------------------
Total State and Local -- 41,316 41,316 --
- ---------------------------------------------------------------------------------------------------------------------------
Total Taxes -- 288,472 288,472 -- --
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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 64,191 -- 64,191
- ---------------------------------------------------------------------------------------------------------------------------
Wages Payable 68,598 68,598
- ---------------------------------------------------------------------------------------------------------------------------
Taxes Payable --
- ---------------------------------------------------------------------------------------------------------------------------
Rent/Leases - Building --
- ---------------------------------------------------------------------------------------------------------------------------
Rent/Leases - Equipment --
- ---------------------------------------------------------------------------------------------------------------------------
Secured Debt/Adequate Protection Payments --
- ---------------------------------------------------------------------------------------------------------------------------
Professional Fees --
- ---------------------------------------------------------------------------------------------------------------------------
Amounts Due to Insiders --
- ---------------------------------------------------------------------------------------------------------------------------
Other: --
- ---------------------------------------------------------------------------------------------------------------------------
Other: --
- ---------------------------------------------------------------------------------------------------------------------------
Total Postpetition Debts 132,789 -- -- -- -- 132,789
- ---------------------------------------------------------------------------------------------------------------------------
Exhibit 99.2
Trenwick Group Ltd.
Trenwick America Corporation Case No. 03-12635 (MFW)
Debtor Reporting Period: September 2003
ACCOUNTS RECEIVABLE RECONCILIATION AND AGING
================================================================================ ================
Accounts Receivable Reconciliation Amount
================================================================================ ================
Total Accounts Receivable at the beginning of the reporting period 50,605,554.25
- -------------------------------------------------------------------------------- ----------------
+ Amounts billed during the peiod 1,672,035.33
- -------------------------------------------------------------------------------- ----------------
- - Amounts collected during the peiod (1,345,066.80)
- -------------------------------------------------------------------------------- ----------------
Total Accounts Receivable at the end of the reporting period 50,932,522.78
- -------------------------------------------------------------------------------- ----------------
================================================================================ ================
Accounts Receivable Aging Amount
================================================================================ ================
0 - 30 days old 1,690,656.64
- -------------------------------------------------------------------------------- ----------------
31 - 60 days old 436,303.94
- -------------------------------------------------------------------------------- ----------------
61 - 90 days old 3,033.91
- -------------------------------------------------------------------------------- ----------------
91 + days old 59,989,346.29
- -------------------------------------------------------------------------------- ----------------
Total Accounts Receivable 62,119,340.78
- -------------------------------------------------------------------------------- ----------------
Amount considered uncollectible (Bad Debt) (11,186,818.00)
- -------------------------------------------------------------------------------- ----------------
Accounts Receivable (Net) 50,932,522.78
- -------------------------------------------------------------------------------- ----------------
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
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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)