FGIC sees net loss widen to $189,933 in March; revenues still at zero

By Caroline Salls

Pittsburgh, April 18 - FGIC Corp. reported a net loss of $180,933 for March on zero revenues, according to its monthly operating report filed Wednesday with the U.S. Bankruptcy Court for the Southern District of New York.

In comparison, FGIC posted a $2,208 net loss for February, also on zero revenues.

The company had $9.38 million in cash and cash equivalents at March 31, down from $9.46 million at the end of February.

FGIC is a New York-based privately held insurance company. It filed for bankruptcy on Aug. 3, 2010. The Chapter 11 case number is 10-14215.

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