Ambac Files New Bankruptcy Plan
Posted on Oct 22, 2011 5:45pm PDT
Ambac Financial Group Inc has reportedly filed a new bankruptcy plan as the regulator in the matter has approved it. According to reports, the company may now be able to avert liquidation. The new reorganization plan has reportedly followed an agreement with Wisconsin's insurance commissioner to resolve tax and other disputes. Without approval of this plan, liquidation could be a possible result.
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