Majestic Capital reports $384,916 May operating loss; revenues $4,750

By Caroline Salls

Pittsburgh, June 16 - Majestic Capital, Ltd. recorded a $384,916 operating loss for May on $4,750 in management fee revenues, according to its monthly operating report filed Thursday with the U.S. Bankruptcy Court for the Southern District of New York.

The net loss for the month was $391,019.

The company had $4.09 million in cash and cash equivalents at May 31.

Majestic Capital, a Bermuda-based specialty provider of workers' compensation insurance, filed for bankruptcy on April 29. The Chapter 11 case number is 11-36225.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.