Ambac Financial Group Inc. on Monday said it has reached a $101.9 million settlement of a dispute with the Internal Revenue Service, a key step in the bond insurer’s effort to emerge from bankruptcy. The settlement calls for $1.9 million …
Ambac Financial Group Inc., the bond insurer that last month won court approval to emerge from bankruptcy, has sued JPMorgan Chase & Co. to recover losses on securities it insured that were made by a unit of the former Bear …
A growing number of U.S. cities are choosing to fund essential services like public safety and garbage collection over making payments on their outstanding debt, as rising costs and falling revenue deplete their budgets. So far, the bond defaults are …
A career state insurance regulator will receive a big pay raise to become a consultant to the Wisconsin Office of the Insurance Commissioner. The Milwaukee Journal Sentinel reports that Lafayette County Judge William Johnston approved a contract that will pay …
A judge granted preliminary approval for Ambac Financial Group Inc., insurers and some banks to pay $33 million to investors to settle litigation accusing the bond insurer of hiding the risks it took on by guaranteeing risky mortgage debt. In …
Ambac Financial Group won a court ruling allowing it to overhaul its insurance unit, a decision that its bankrupt parent greeted as a ‘gigantic step” forward. The plan, which a Wisconsin state judge approved, allows the Ambac Assurance Corp. unit …
