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American Western Life
Insurance Company in Liquidation |
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Balance Sheet |
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December 31, 2008 |
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Date of Liquidation - August 28, 1997 |
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Balances as of |
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Net Change |
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August 28, 1997 |
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December 31, 2008 |
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Increase (Decrease) |
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Assets |
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Invested Assests |
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Bonds |
$1,851,849 |
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$0 |
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($1,851,849) |
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Real Estate |
585,603 |
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0 |
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(585,603) |
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Cash |
402,607 |
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715,816 |
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313,209 |
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Short Term Investments |
5,101 |
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0 |
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(5,101) |
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Total Invested Assets |
2,845,160 |
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715,816 |
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(2,129,344) |
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Other Assets |
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Other Assets |
30,664 |
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0 |
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(30,664) |
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Furniture, Fixtures, Equip |
753,930 |
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0 |
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(753,930) |
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Total Other Assets |
784,594 |
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0 |
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(784,594) |
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Receivables |
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Premiums Receivable |
18,185 |
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0 |
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(18,185) |
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Investment Income Receivable |
26,844 |
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0 |
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(26,844) |
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Due From Reinsurers |
268,487 |
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0 |
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(268,487) |
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Miscellaneous Receivable |
348,704 |
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0 |
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(348,704) |
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Litigation Recoverable |
0 |
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0 |
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0 |
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Taxes Recoverable |
69,942 |
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0 |
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(69,942) |
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Total Receivables |
732,162 |
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0 |
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(732,162) |
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Total Assets |
$4,361,916 |
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$715,816 |
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($3,646,100) |
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Liabilities & Capital |
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Liabilites |
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Reserves |
$4,788,728 |
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$0 |
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($4,788,728) |
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Deposits |
60,739 |
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0 |
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(60,739) |
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Accounts Payable - POC's |
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500,488 |
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500,488 |
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Taxes Payable |
(3,866) |
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0 |
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3,866 |
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Accounts Payable |
164,491 |
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0 |
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(164,491) |
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Asset Valuation Reserve |
44,131 |
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0 |
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(44,131) |
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Payable to Guaranty Assoc |
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0 |
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0 |
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Other Liabilities |
150 |
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215,328 |
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215,178 |
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Unclaimed Property |
55,451 |
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0 |
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(55,451) |
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Total Liabilities |
5,109,824 |
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715,816 |
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(4,394,008) |
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Capital |
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2910 Common Stock |
1,797,885 |
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1,797,885 |
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0 |
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2920 Preferred Stock-Series
A |
698,115 |
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698,115 |
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0 |
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2920 Preferred Stock-Series
B |
4,000 |
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4,000 |
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0 |
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2950 Unassigned Surplus |
(3,247,908) |
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(3,955,981) |
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(708,073) |
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2951 Liq Profit (Loss)
8/27/97 and Forward |
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1,603,079 |
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1,603,079 |
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Net Profit (Loss)-Current
Period |
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(147,098) |
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(147,098) |
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Total Capital |
(747,908) |
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0 |
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747,907 |
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Total Liabilities & Capital |
$4,361,916 |
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$715,816 |
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($3,646,101) |
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American Western Life
Insurance Company in Liquidation |
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Income and Expense Statement |
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For the Period
Ending December 31, 2008 |
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Date of Liquidation - August 28, 1997 |
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For The Period |
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January 1, 2008 to |
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December 31, 2008
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Revenue |
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3710 US Govt Bond Int Inc |
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0 |
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3732 Interest on MM Accts |
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19,386 |
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3733 Interest on Bank Accts |
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0 |
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3774 Int on ST Invest/CD's |
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0 |
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Investment Income - Accrued |
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774 |
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Unrealized Loss-Impaired Securities |
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0 |
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4335 Group A&H Direct Claims |
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0 |
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Prescription Drug Claims-Dir |
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0 |
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5210 Group A&H Commissions |
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0 |
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Ceded Family A&H-CNA |
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0 |
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Chg in Recovery from Reinsurers |
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0 |
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Other Income |
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0 |
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Total Revenue |
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20,160
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Expenses |
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6000 Salary/Wage-Support Serv |
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688 |
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6100 Legal Fees |
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4,351 |
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6130 Outside Services |
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122,674 |
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6130 Contract Labor |
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0 |
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Expenses-Contract Labor |
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0 |
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Guaranty Assoc-Admin Expenses |
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(13,949) |
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6210 Rent-Office Space |
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6,215 |
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6220 Stationery & Office Supplies |
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15 |
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Office Expense |
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2,059 |
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6160 Travel |
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546 |
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6160 Meals |
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58 |
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6180 Postage |
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40 |
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6180 Freight/Express/Courier |
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0 |
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Telephone |
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874 |
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Bank Service Charges |
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103 |
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Insurance |
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939 |
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7040 Other Fees, Taxes & Assessments |
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0 |
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Interest on Claims |
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42,645 |
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(Gain)/Loss - Assets Marked to Market |
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0 |
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Miscellaneous Expense |
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1 |
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Total
Expenses |
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167,258
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Net Income (Loss) |
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