Bond insurer Ambac says it will begin making payments on claims, likely beginning this week, after a judge in Wisconsin granted the company permission to do so.
In a Securities and Exchange Commission filing, New York-based Ambac says it will begin paying 25 percent of the permitted policy claims amount. The payments are scheduled to begin on or around the 20th of this month.
The claims cover a period from March 24, 2010 to July 31, 2012 and will be paid in cash.
Payments will be made from the company's segregated account, domiciled in Wisconsin, which was created after the company filed for bankruptcy protection in 2010.
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