FAIRLESS HILLS, Pa. -- Ambac Financial Group, Inc. is set to file its own Chapter 11 plan in court in June, according to the company's counsel. This move is amidst the company's dissatisfaction with an offer of the Wisconsin insurance regulator who currently oversees the rehabilitation of the company's operating unit, Ambac Assurance Corporation.
This story, and other developments, in the Ambac Financial case is available in AMBAC BANKRUPTCY NEWS, Issue No. 19, published by Bankruptcy Creditors' Service, Inc. The 7-page newsletter contains stories with these headlines:
[00171] AFG FINDS OCI'S TERM SHEET DISAPPOINTING, SAYS LAWYER
[00172] AFG TO FILE CHAPTER 11 REORGANIZATION PLAN BY JUNE
[00173] DEBTOR'S OBJECTION TO NY FINANCE DEPT.'S $116-MIL. CLAIM
[00174] AFG AGREES TO LIFT STAY TO ALLOW $27.1-MIL. SETTLEMENT
[00175] DEBTOR'S 2ND MOTION TO EXTEND ACTION REMOVAL PERIOD
[00176] DEBTOR'S MOTION TO ASSUME AND ASSIGN KINGSTON LEASE
[00177] DEBTOR'S MOTION TO EMPLOY ORDINARY COURSE PROFESSIONALS
[00178] BANKRUPTCY PROFESSIONALS FILE FEE APPLICATIONS
[00179] AFG RECEIVES SUBPOENA ON MORTGAGE SECURITIZATION PROBE
A copy of the newsletter can be purchased on-line with a major credit card at <a href="https://ecommerce.bankrupt.com/bin/ibl_re?co_name=AMBAC">https://ecommerce.bankrupt.com/bin/ibl_re?co_name=AMBAC</a> for $45. Copies of all back issues are also available for purchase at BCSI's on-line newsstand.
AMBAC BANKRUPTCY NEWS tracks the restructuring of Ambac Financial Group Inc.
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AMBAC BANKRUPTCY NEWS is distributed to paying subscribers by electronic mail. New issues are published on an ad hoc basis as significant activity occurs (generally every 10 to 20 days) in the Debtors' cases. The subscription rate is $45 per issue. Newsletters are delivered via e-mail; invoices, transmitted following publication of each newsletter issue, arrive by fax. Distribution to multiple individuals at the same firm is provided at no additional charge; folks outside of your firm should set-up and pay for their own subscriptions. Subscriptions may be canceled at any time without further obligation.
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