[Federal Register Volume 66, Number 137 (Tuesday, July 17, 2001)]
[Notices]
[Page 37250]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-17794]


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SECURITIES AND EXCHANGE COMMISSION


Issuer Delisting; Notice of Application To Withdraw From Listing 
and Registration on the Pacific Exchange, Inc.; (Amwest Insurance 
Group, Inc., Common Stock, $.01 Par Value, and Preferred Stock Purchase 
Rights) File No. 1-9580

July 11, 2001.
    Amwest Insurance Group, Inc. Delaware corporation (``Issuer''), has 
filed an application with the Securities and Exchange Commission 
(``Commission''), pursuant to Section 12(d) of the Securities Exchange 
Act of 1934 (``Act'') \1\ and Rule 12d2-2(d) thereunder,\2\ to withdraw 
its Common Stock, $.01 par value, and Preferred Stock Purchase Rights 
(``Securities''), from listing and registration on the Pacific 
Exchange, Inc. (``PCX'').
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    \1\ 15 U.S.C. 18l(d).
    \2\ 17 CFR 240.12d2-2(d).
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    The Issuer states in its application that it has met the 
requirements of the PCX by complying with all applicable laws in effect 
in the state of Delaware, in which it was incorporated, and with the 
PCX's rules governing an issuer's voluntary withdrawal of a security 
from listing and registration.
    In making the decision to withdraw the Securities from listing on 
the Exchange, the Issuer considered (i) the Issuer's non-compliance 
with the PCX maintenance standards concerning the price per share of 
the Issuer's common stock; and (ii) the Issuer's net tangible assets, 
which are substantially below the minimum qualification of the 
Exchange.
    In addition, the Issuer states that the Insurance Director of the 
State of Nebraska has placed the Issuer's principal asset, Amwest 
Surety Insurance Company, in liquidation. The Issuer has no independent 
operations and no source of funds other than those provided by its 
subsidiary. The Issuer has not filed with the Commission all of its 
required periodic reports, including its Form 10-K for the year ending 
December 31, 2000, due to its inability to complete its audited 
financial statements. The Issuer does not expect to obtain audited 
financial statements in the future.
    Any interested person may, on or before August 1, 2001 submit by 
letter to the Secretary of the Securities and Exchange Commission, 450 
Fifth Street, NW., Washington, DC 20549-0609, facts bearing upon 
whether the application has been made in accordance with the rules of 
the PCX and what terms, if any, should be imposed by the Commission for 
the protection of investors. The Commission, based on the information 
submitted to it, will issue an order granting the application after the 
date mentioned above, unless the Commission determines to order a 
hearing on the matter.

    For the Commission, by the Division of Market Regulation, 
pursuant to delegated authority.\3\
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    \3\ 17 CFR 200.30-3(a)(1).

Jonathan G. Katz
Secretary.
[FR Doc. 01-17794 Filed 7-16-01; 8:45 am]
BILLING CODE 8010-01-M