NU Online News Service, Aug. 31, 3:52 p.m. EDT

A group of policyholders sued Ambac Financial Group to prevent the corporation from taking funds from Ambac Assurance Corp. while it is in runoff.

Six financial funds that are holders of residential mortgage-backed securities policies sued the New York-based guaranty insurer in the Circuit Court of Dane County, Wis., to prevent what they allege is acceptance of payments from Ambac Assurance to the parent company Ambac Financial.

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