Ambac Assurance Corp.

• Insurance Regulator Amends Ambac Note-Purchase Approval

  By Mark E. Ruquet, PropertyCasualty360.com  |  May 24, 2012

  Wisconsin’s commissioner of insurance amended his decision from last week and will now allow Ambac to purchase just two of three bank notes.

• Ambac Gets Approval to Purchase Notes

  By Mark E. Ruquet, PropertyCasualty360.com  |  May 18, 2012

  Bond insurer Ambac Assurance Corp. received permission from its Wisconsin regulator to purchase surplus notes the company issued in 2010, but did not get permission to pay interest on the notes.

• Ambac Submits CDS Settlement Offer to IRS

  By Mark E. Ruquet, PropertyCasualty360.com  |  February 28, 2012

  Bond insurer Ambac Financial Group Inc. says it has offered to pay the Internal Revenue Service more than $100 million dollars and give up tax credits to settle a dispute over tax treatment of credit default swaps.

• Judge Reinstates Ambac Fraud Claim Against Credit Suisse

  By Reuters  |  October 14, 2011

  Ambac Assurance Corp. won a bid to reinstate a fraudulent inducement claim against a unit of Credit Suisse Securities over a 2007 mortgage-backed securities transaction Ambac insured.

• Ambac Can Submit Bankruptcy Exit Plan to Creditors

  By Nick Brown, Reuters  |  October 5, 2011

  A federal judge has given Ambac Financial Group her approval to send its bankruptcy exit plan to creditors for a vote.

• Ambac Reaches Agreement on Reorganization Plan

  By Mark E. Ruquet, PropertyCasualty360.com  |  September 23, 2011

  Ambac Financial Group, Inc. says it has reached an agreement with Wisconsin regulators over outstanding tax and expense-related issues surrounding subsidiary Ambac Assurance Corp.

• Ambac Hopes for Agreement on Reorganization With Wis. Commissioner

  By Mark E. Ruquet, PropertyCasualty360.com  |  July 15, 2011

  Ambac says it hopes it can reach an agreement with Wisconsin’s insurance commissioner that will allow the company to file its bankruptcy reorganization plan.

• Ambac’s Chief Exec & General Counsel Resign

  By Mark E. Ruquet, PropertyCasualty360.com  |  June 14, 2011

  Troubled bond insurer Ambac says David Wallis, its president and CEO, and Kevin Doyle, senior vice president and general counsel, have resigned.

• Ambac Surplus Note Payment On Hold

  By Mark E. Ruquet, PropertyCasualty360.com  |  June 2, 2011

  Note holders will have to wait before they receive interest payments on the notes they were issued as part of a settlement with guaranty insurer Ambac as the Wisconsin Insurance Commissioner reviews the tax implications of such payments.

• Losses Continue For Bond Insurers

  By Mark E. Ruquet, PropertyCasualty360.com  |  May 16, 2011

  Two bond insurers reported first-quarter losses, with one of the companies, Ambac Financial Group, saying that it may have to liquidate pursuant to Chapter 7 if its reorganization plans are not successful.