FGIC Gets Quick Ch. 11 Exit With Plan Confirmation

Law360, New York (April 19, 2012, 6:01 PM EDT) -- A New York bankruptcy judge on Thursday confirmed a Chapter 11 plan of reorganization for FGIC Corp. nearly at the outset of a 15-minute hearing, putting the insurance holding company on track for a speedy end to its bankruptcy stint.

“Congratulations, that was a quick case,” U.S. Bankruptcy Judge Stuart M. Bernstein told attorneys for the debtor after hearing several other issues in the case following his initial confirmation, with little deliberation, of the plan, which envisions unsecured creditors getting all the company's cash plus an...
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