- FedNat Holding ( OTC:FNHC ) and certain units of the regional insurance holding company have filed for bankruptcy protection.
- The voluntary petitions were filed under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Florida.
- The company said it will evaluate all strategic alternatives to maximize value for stakeholders, including a reorganization of business and sale of assets.
- The ~$6.5M cash on hand is expected to provide liquidity to support day-to-day operations.
- Source: Press Release
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FedNat Holding, units file for bankruptcy protection