1.   All present and former shareholders, including those with warrants and holders of convertible subordinated notes, would be eligible to receive some additional shares, he said.

2.   Interest on its senior subordinated notes will accrue and compound semi-annually.

3.   The company would also incur additional debt through bank loans or the sale of senior subordinated notes.

4.   The company will register to exchange these bonds for senior subordinated notes at a later date, according to the filing.

5.   The financially troubled insurance company said it will probably default on its bank loans and subordinated notes.