Holders Of Obligations Ask Why Rehabilitator Has Not Increased Distributions
(March 14, 2016, 7:42 AM EDT) -- MADISON, Wis. — The holders of certain obligations against a bond insurer’s segregated account in rehabilitation on Feb. 11 asked a Wisconsin court to issue an order to show cause why the rehabilitator should not increase the distribution percentage to the holders (In the Matter of the Rehabilitation of: Segregated Account of Ambac Assurance Corporation, No.; 10-cv-1576, Wis. Cir., Dane Co.).
(Brief available. Document #10-160325-007B.)
Judge William D. Johnston of the Dane County, Wis., Circuit Court approved the rehabilitation of the segregated account allocated from Ambac...