NU Online News Service, June 2, 2:49 p.m. EDT
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.
In an announcement late yesterday, Ambac Assurance Corp. said Wisconsin Commissioner Theodore K. Nickel has disapproved the requests of Ambac and the rehabilitator of the Segregated Account of Ambac to pay interest on all outstanding surplus notes issued by Ambac and the Segregated Account on the first scheduled interest payment date of June 7.
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