NU Online News Service, Feb. 28, 11:21 a.m. EST
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.
The offer is part of the New York-based firm's Chapter 11 bankruptcy reorganization that will be presented to Judge Shelley C. Chapman in U.S. Bankruptcy Court for the Southern District on New York in Manhattan, scheduled for March 13.
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