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FGIC records $38,011 net loss for February; unrestricted cash declines
By Caroline Salls
Pittsburgh, March 18 - FGIC Corp. posted a $38,011 net loss for February on zero revenue, according to its monthly operating report filed March 18 with the U.S. Bankruptcy Court for the Southern District of New York.
In comparison, FGIC reported a $28,163 net profit for January, also on zero revenue.
The company also reported unrestricted cash and cash equivalents of $8.35 million as of Feb. 28, down from $8.41 million at the end of January.
FGIC is a New York-based privately held insurance company. It filed for bankruptcy on Aug. 3, 2010 under Chapter 11 case number 10-14215.
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