UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DCD.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Sections 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): ~~July~~ 7November 19, ~~2008~~2010

LASALLE RE HOLDINGS LTD
(Exact name of registrant as specified in its charter)
Bermuda
(State or other jurisdiction of incorporation)
1-16089	98-0232340
(Commission File Number)	(I.R.S. Employer Identification No.)
c/o Michael Morrison, John Wardrop Joint Liquidators LaSalle Re Holdings Limited (in liquidation) Crown House, 4 Par-La-Ville Road Hamilton HM 08, Bermuda	Not Applicable
(Address of principal executive offices)	(Zip Code)

LASALLE RE HOLDINGS LTD

(~~441)~~Exact ~~295-5063~~name ~~(Registrant’s~~of ~~Telephone~~registrant ~~Number,~~as ~~Including~~specified ~~Area~~in ~~Code~~its charter)

~~NOT~~Bermuda ~~APPLICABLE~~ (~~Former~~State ~~Name~~ or ~~Former~~other ~~Address,~~jurisdiction ifof ~~Changed~~incorporation) ~~Since~~1- ~~Last~~12823 ~~Report~~(Commission File Number) 98-0232340 (I.R.S. Employer Identification No.)

c/o Michael Morrison, John Wardrop

Joint Liquidators

LaSalle Re Holdings Limited (in liquidation)

Crown House, 4 Par-La-Ville Road

Hamilton HM 08, Bermuda	Not Applicable
(Address of principal executive offices)	(Zip Code)

Registrant's telephone number, including area code: (441) 295-5063

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the obligation of the registrant under any of the following provisions:

o[ ] Written ~~communications~~communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425) o[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) o[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) o[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

ITEM 87.01 ~~OTHER~~ REGULATION ~~EVENTS~~FD DISCLOSURE

Hamilton, Bermuda (~~July~~November 719, ~~2008~~2010): The Joint Liquidators (the “JLs”) of LaSalle Re Holdings Limited (the “"Company”") are providing holders of the Company’'s ~~common~~Series ~~shares, par value $0.10 and series~~ A ~~preferred~~Preferred ~~shares~~Shares, par value $1.00 per share (the “"Preferred Shares”"), with a status report of the affairs of the Company. The Company’'s current reports on Form 8-K are available free of charge at the SEC’'s website www.sec.gov.

1. Company Background

In August 2003, insolvency proceedings were initiated by the Company in both the United States and Bermuda. The Supreme Court of Bermuda (the “Court”) ordered that Michael Morrison, of KPMG Advisory Limited in Bermuda, and John Wardrop of KPMG LLP in England be appointed Joint Provisional Liquidators to the Company and Joint Provisional Liquidators of the Company’s parent company, Trenwick Group Limited (“TGL”).

Concurrently Trenwick America Corporation (“TAC”), along with the Company and TGL, filed voluntary petitions for relief under chapter 11 of the United States Bankruptcy Code (the “U.S. Bankruptcy Code”) with the United States Bankruptcy Court for the District of Delaware (the “U.S. Bankruptcy Court”), to run in parallel with the provisional liquidation in Bermuda. In 2003 and 2004, the U.S. Bankruptcy Court approved the sale of the Company’s former UK-based affiliates and the reorganization of TAC, the holding company of TGL’s U.S. insurance entities, pursuant to which these former affiliates were separated and are no longer affiliated in any respect with the Company or TGL. Since there were insufficient assets to support the reorganization of the Company and TGL, the U.S. Bankruptcy Court dismissed the Company and TGL’s cases in 2004 in deference to the ongoing Bermudian liquidation proceedings.

Following the dismissal of their chapter 11 cases, the JPLs of the Company and TGL filed petitions under section 304 of the U.S. Bankruptcy Code and applications for certain injunctive relief (the “304 Petitions”) with the U.S. Bankruptcy Court. The impetus behind the 304 Petitions was to investigate, and, if appropriate, prosecute various claims and causes of action that might exist in favour of the Company and TGL, and to protect and preserve the Company’s and TGL’s assets. The relief sought in the 304 Petitions was granted by court orders of the U.S. Bankruptcy Court dated ~~May~~ 26, May 2005.

The Company was placed into liquidation by the Court on ~~April~~ 15, April 2005 and TGL was placed into liquidation by the Court on ~~November~~ 4, November 2005.

2. Current status of the liquidation proceedings in Bermuda

~~The~~LSRH ~~Court~~is ~~approved~~a ~~the~~holding ~~appointment~~company offor ~~Mike~~LaSalle ~~Morrison~~Re ~~and~~Ltd ~~John~~(“LaSalle ~~Wardrop~~Re”) asand the JLs’ ofmain focus has been on the ~~Company~~protection byand ~~Order~~realisation of ~~the~~LSRH’s ~~Court~~shareholding ~~dated~~in ~~April~~LaSalle ~~13, 2008~~Re.

~~The JLs set a bar date for the filing of creditor claims against the Company~~2.1 LaSalle ~~This~~Re ~~bar~~Ltd ~~date~~(“LaSalle ~~has passed and all creditor claims against the Company have been or will be paid in full.~~Re”)

3LaSalle Re is a wholly owned subsidiary of the Company and was LSRH’s principal operating reinsurance subsidiary. LaSalle Re ~~Limited~~is ~~(“LaSalle”)~~a Bermuda incorporated entity and, following the completion of a Scheme of Arrangement and a final distribution made to LSRH in 2008, was placed into solvent members’ voluntary liquidation in 2008.

LaSalle’s subsidiary, aLaSalle ~~wholly~~Re ~~owned~~Corporate ~~subsidiary~~Capital ofLtd ~~the Company~~(“LSRCC”), iswas a ~~Bermudian~~corporate ~~Class~~capital 3vehicle ~~registered~~at ~~reinsurance~~Lloyd’s ~~company~~of ~~(in~~London. In ~~December~~2009 ~~2007~~LSRCC completed the ~~Company~~formalities ~~successfully~~required ~~applied~~by Lloyd’s of London to ~~the~~terminate ~~Bermuda~~its ~~Monetary~~residual ~~Authority~~underwriting toliabilities ~~have~~and exit its involvement in the ~~Company~~Lloyd’s ~~reclassified~~syndicates ~~from~~which ait ~~Class~~participated 4in toas a ~~Class~~corporate 3member. Following ~~reinsurer~~the ~~pursuant~~termination toof its Lloyd’s obligations, the ~~Bermuda~~JLs ~~Insurance~~of ~~Act~~LaSalle ~~1978)~~Re ~~and~~appointed ~~has~~liquidators ~~been~~to inwind-up ~~run~~LSRCC via a solvent members’ voluntary liquidation. The winding-~~off~~up ~~since~~of ~~2002~~LSRCC will not generate any material distribution to LaSalle Re.

~~LaSalle~~Once ~~proposed~~LSRCC ahas ~~Scheme~~been offormally ~~Arrangement~~dissolved ~~under Section 99 of the Bermuda Companies Act 1981 (the “Scheme”) with its reinsurance creditors and the Scheme was subsequently approved by~~ LaSalle Re’s ~~creditors~~winding-up ~~and~~will ~~sanctioned~~be byfinalised ~~the~~and ~~Court~~any onremaining ~~April~~funds ~~27,~~distributed ~~2007. Under the terms of the Scheme, Scheme Creditors were required~~ to ~~submit all reinsurance claims against LaSalle by August 30, 2007. In January this year, LaSalle paid~~ its ~~final~~only ~~remaining reinsurance liabilities under the Scheme and the Scheme was terminated on January 22~~shareholder, ~~2008~~LSRH.

~~Following~~2.2 Intercompany ~~the~~loan ~~completion~~between ofLSRH ~~the Scheme, LaSalle was placed into member’s voluntary liquidation on March 13, 2008~~ and ~~Mike Morrison and Malcolm Butterfield were appointed Joint Liquidators. At the commencement of the member’s voluntary liquidation LaSalle’s net assets were approximately $38.1 million.~~TGL

~~Shortly~~LSRH ~~after~~is ~~their~~the ~~appointment~~beneficiary ~~as joint liquidators~~ of ~~LaSalle,~~an ainter-company ~~dividend~~loan toissued ~~the~~by ~~Company~~its ofparent $6company, TGL.5 As ~~million~~a ~~was~~result ~~made~~of tothis ~~allow~~inter-company ~~the~~debt, ~~Company~~LSRH toeffectively ~~settle~~holds ~~its~~the ~~accrued~~remaining ~~liquidation~~economic ~~fees~~interest ~~and~~in ~~expenses,~~TGL. Therefore ~~and~~any torecoveries ~~settle~~made ~~the~~in ~~Company’s liabilities to~~ the ~~Company’s~~TGL ~~creditors.~~estate ~~The~~(after ~~JLs~~deduction ~~intend~~of toany ~~distribute~~applicable ~~LaSalle’s~~liquidation ~~shareholder~~fees ~~surplus~~and ofexpenses) ~~approximately~~will ~~$32~~be ~~million~~paid to ~~the~~LSRH ~~Company~~in onthe orform ~~before~~of ~~July~~a ~~21, 2008~~liquidation dividend.

~~4. Timing~~As ~~and~~such, ~~quantum~~any offuture asset recoveries that the ~~initial~~JLs ~~preference~~of ~~liquidation~~TGL ~~dividend~~may be able to achieve from TGL’s estate will ultimately flow to the holders of LSRH's Series A Preferred Shares.

~~Company’s~~The ~~Series~~only Aremaining ~~Preferred~~asset ~~Shareholders~~that the JLs have yet to collect in the TGL estate relates to the Senior and Junior Subordinated notes issued by Trenwick America LLC as discussed below.

2.3 Senior and Junior Subordinated notes issued by Trenwick America LLC (“TALLC”)

In 2007 TGL acquired an interest in Senior Secured Notes (face value of $2.25 million) and Junior Subordinated Secured Notes (face value of $2.75 million) (together the “TALLC Notes”) as part of a negotiated settlement with TALLC regarding a dispute with Trenwick Barbados Ltd. Whilst the TALLC Notes have a combined face value of $5 million, it is expected that they will only be redeemed or sold at a small fraction of their aggregate face value.

Over the past two years the JLs have explored possible ways of monetizing their economic interest in the TALLC Notes. To this end, the JLs have held discussions with TALLC to discuss the progress made on the TARCO run-off and held discussions with other parties regarding the acquisition of TGL’s interest in the TALLC Notes. However, to date the sale discussions have not resulted in any formal agreement, mainly as a result of the fact that the JLs believe that the level of offers do not reflect the realisable value of the TALLC Notes.

The value of the TALLC Notes will ultimately depend on the value that can be realised by TALLC from its wholly owned subsidiary, Trenwick America Reinsurance Corporation (“TARCO”). TARCO is licensed as a reinsurer and incorporated in the State of Connecticut and

is currently in run-off and under the supervisory oversight of the Connecticut Insurance Department.

TARCO is TALLC’s only major asset and therefore any distribution from TALLC to its noteholders (including TGL) is primarily dependent upon the value that TALLC can realise from its shareholding in TARCO.

The long-term nature of TARCO’s reinsurance liabilities means that, absent a sale, it may be some years until the ultimate net asset position of TARCO can be ascertained. Therefore it may be many years until TARCO can make a distribution to its shareholder. For this reason, it has been highly problematic for the JL to obtain an acceptable offer for the TALLC Notes given the substantial discount that purchasers have demanded to reflect the timing and underwriting risk prevalent in the TARCO asset.

The JLs intend to postpone any sale of their interest in the TALLC Notes until such time that there is greater clarity regarding the future of TARCO. Consequently, in order to minimise liquidation costs, the JLs have effectively ceased any further work on LSRH and TGL until such time that the plans for TARCO have been crystallised.

3. Estimated quantum and timing of dividends to the Company’s Series A Preferred Shareholders

On 28 July 2008 a liquidation dividend of US$10.5 per share was paid to holders of LSRH’s Series A Preferred Shares, the total distribution paid to the holders of the Series A Preference Shares was $31.5 million, representing the vast majority of the likely ultimate return to this class of shareholder.

Under the Company’s constitutional documents, the Company’s Series A Preferred Shareholders are entitled to receive:

a preference dividend in a liquidation of $25 per share; and

ii.

accrued but unpaid dividends in a liquidation prior to payments to other shareholders.

~~The~~ Funds available for distribution to shareholders of the Company will be paid to holders of the Company’s Series A Preferred Shares in priority to the Company’s common shareholders to the extent described above.

~~The~~Based ~~initial~~on the potential receipts from the final liquidation distribution from TGL to ~~the~~LSRH, ~~Company~~and including funds currently in hand in LSRH’s ~~Series~~bank Aaccount, ~~Preferred~~less ~~Shareholders~~liquidation ~~will~~costs ~~total~~and ~~approximately~~expenses, ~~$31.5~~the ~~million.~~JLs ~~This~~believe ~~equates~~that toa ~~$10.50~~final ~~for~~residual ~~each~~distribution should be available to the Series A ~~Preferred~~Shareholders. This ~~Share~~final distribution is however unlikely to be significant given that substantially all of the Company’s assets were previously distributed to Series A Shareholders in July 2008.

~~This~~The ~~preference~~JLs ~~dividend~~expect isthat ~~payable~~the onfinal ~~July~~distribution ~~28,~~may ~~2008~~be topossible by the ~~holders~~year ofend ~~Series~~2012, Ahowever, ~~Preferred~~the ~~Stock~~distribution ofis ~~record~~dependent onupon the ~~books~~successful realisation of the ~~Company~~TALLC atNotes. Failure to achieve a sale or distribution from the ~~close~~TALLC ofNotes ~~business~~will ontherefore ~~July~~have ~~17,~~an ~~2008.~~

~~5. Estimated~~impact on the quantum and timing of ~~further~~the ~~dividends~~final distribution to the Company’s Series A ~~Preferred~~Shareholders.

~~Shareholders~~4. Future reporting

~~This~~Given ~~initial~~the ~~distribution~~administrative costs involved in preparing reports for the Company’s shareholders, the JLs intend to continue to limit TGL’s public announcements in the future to material events relating to the Company’s ~~Series~~winding-up A(liquidation) ~~Preferred~~proceedings ~~Shareholders~~in ~~represents~~Bermuda. The JLs intend to disclose any such event to the public by filing with the SEC a ~~distribution~~Current ofReport ~~substantially~~on ~~all~~Form 8-K. Reports on the Company’s affairs are not mailed to shareholders of the ~~assets~~Company, unless we are required to do so or unless we believe, in our sole judgment, that it is in the best interest of the Company’s shareholders.

However, the Company still has a small number of contingent assets which may result in further realizations for the estate in the future. Depending on the outcome of the realisation efforts, an additional distribution to the Company’s preferred shareholders may be made prior to the formal dissolution of the Company.

It is anticipated that any further distributions to Series A Preferred Shareholders will occur within 12 months, although the exact timing and the quantum of any further distribution is uncertain.

6. Future reporting

The JLs intend to continue to limit the Company’s public announcements in the future to material events relating to the Company’s winding-up (liquidation) proceedings in Bermuda. We intend to disclose any such event to the public by filing with the SEC a Current Report on Form 8-K. Reports on the Company’s affairs are not mailed to shareholders of the Company, unless we are required to do so or unless we believe, in our sole judgment, that it is in the best interest of the Company’s shareholders.

The Company’s current reports on Form 8-K are available free of charge at the SEC’s website www.sec.gov.

75. Special Note Regarding “"Forward Looking Statements”

This report contains certain “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act concerning current expectations about the ~~windingup~~winding-up of the Company, including ~~the expected net asset value of LaSalle, expected distributions to Series A Preferred Shareholders and~~ other statements identified by the words “"expects,”" “"estimated,~~” “~~" "believes”", ~~and “~~"intend”" and similar expressions. Such statements are subject to conditions, risks and uncertainties that may materially affect the actual results of the winding-up of the Company. ~~These factors are described herein and include contingencies and claims that could affect the Company’s winding-up and dissolution.~~

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.

LASALLE RE HOLDINGS LTD (in liquidation)

Date: July 7, 2008		By:	/s/ Michael Morrison
Date: November 19, 2010	By:	/s/ Michael Morrison
		Name: Michael Morrison Title: Joint Liquidator
	Name: Michael Morrison
	Title: Joint Liquidator
	By:	/s/ John Wardrop
	Name: John Wardrop
	Title: Joint Liquidator

By: /s/ John Wardrop Name: John Wardrop Title: Joint Liquidator

The Joint Liquidators act without personal liability.

Filing Compare · LASALLE RE HOLDINGS LTD