Ambac Financial Group, Inc.

  1. August 01, 2013

    US Trustee Looks To Shave Attys' Fees In Ambac Ch. 11

    A U.S. trustee on Wednesday moved to trim the fat from nearly $12 million in fees requested by lawyers and other professionals in the bankruptcy case of New York-based bond insurer Ambac Financial Group Inc., taking aim at charges for everything from airfare to preparing the bill itself.

  2. April 29, 2013

    Ambac Set To Exit Bankruptcy After $102M IRS Deal Gets Nod

    Ambac Financial Group Inc. is set to exit bankruptcy within days thanks to a judge's approval Monday of a $101.9 million settlement with the Internal Revenue Service to end a dispute over tax liabilities from certain contracts Ambac signed years ago.

  3. April 25, 2013

    Ambac Keeping Mum On End Of Board Nominee Crony Dispute

    An Ambac Financial Group Inc. board nominee who was accused of trying to score a top position at the company for an unqualified friend will not serve on the board, but the details of the resolution are being kept under wraps.

  4. April 08, 2013

    $102M IRS Deal Moves Ambac Closer To Exiting Ch. 11

    Ambac Financial Group Inc. and its bond insurance unit have agreed to shell out $101.9 million to the Internal Revenue Service to end a dispute with the agency over tax liabilities from certain contracts Ambac signed before the housing market collapse, a development announced Monday that puts the bond insurer closer to emerging from Chapter 11.

  5. April 05, 2013

    Ambac Creditors Will Stay Out Of Board Member Fight

    Creditors of Ambac Financial Group Inc. declined Thursday to take sides in the bond insurer's bid to bar investment strategist Charles Lemonides from joining the company's board of directors, saying it did not have enough information to take a stance.

  6. March 05, 2013

    Ambac Seeks To Block Board Member Accused Of Cronyism

    Bond insurer Ambac Financial Group Inc. on Monday asked a New York bankruptcy judge to bar investment strategist Charles Lemonides from joining the company's board of directors, alleging he pushed for an unqualified friend to become the company's chief investment officer.

  7. March 14, 2012

    Ambac Ch. 11 Plan OK'd With No Shareholder Recovery

    Commending the parties' "herculean efforts," a New York bankruptcy judge on Wednesday confirmed an Ambac Financial Group Inc. Chapter 11 plan that will restructure $1.7 billion in debt, though she expressed regret that equity holders will be left out to dry.

  8. March 07, 2012

    Ambac Urges NY Court To Override Ch. 11 Plan Concerns

    Ambac Financial Group Inc. on Tuesday urged a New York bankruptcy court to approve its amended Chapter 11 reorganization plan over the objection of shareholders that the bankrupt bond insurer is being undervalued, potentially robbing them of recoveries.

  9. October 26, 2011

    Ambac, IRS In Talks To Resolve $807M Tax Claims

    Bankrupt financial products insurer Ambac Financial Group Inc. told a New York court on Wednesday that it hoped to reach an agreement by early November with the Internal Revenue Service over disputed tax liabilities, including claims for at least $807 million.

  10. October 13, 2011

    Ambac Says $800M Tax Row Threatens Reorganization

    Bankruptcy financial product insurer Ambac Financial Group on Wednesday asked a New York judge to quickly determine the status of at least $800 million in federal tax claims against it, saying a delay could derail its plan to reorganize.