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Majestic Warns of Bankruptcy amid Questions over Deal with SWCB

Monday, November 8, 2010 | 0

By Michael Whiteley, Eastern Bureau ChiefMajestic Capital, the holding company for Majestic Insurance Co. and Compensation Risk Managers (CRM), warned in securities filings last week its future is in question as it works to finalize a sale and settle differences with New York regulators.In filings with the U.S. Securities and Exchange Commission (SEC), the Bermuda-based insurance holding company said it suffered a net loss of $24.3 million for the three quarters ended Sept. 30.It warned it can't count on help from its subsidiaries – San Francisco-based workers' compensation carri...

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