Majestic Capital posts $365,218 June operating loss; revenues $4,750

By Caroline Salls

Pittsburgh, July 15 - Majestic Capital, Ltd. recorded a $365,218 operating loss for June on $4,750 in management fee revenues, according to its monthly operating report filed Friday with the U.S. Bankruptcy Court for the Southern District of New York.

In comparison, the company posted a $384,916 operating loss for May, also on $4,750 in management fee revenues.

The net loss for June was also $365,218, narrowing from a $391,019 May net loss.

The company had $4.02 million in cash and cash equivalents at June 30, down from $4.09 million at the end of May.

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.