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Ambac Given Until December to Solicit Votes on Reorganization Plan

BCSI reports on latest events arising in the chapter 11 cases commenced by Ambac Financial Group Inc.

 
PRLog - Aug. 11, 2011 - FAIRLESS HILLS, Pa. -- FAIRLESS HILLS, Pa. -- Bankruptcy Judge Shelley C. Chapman for the Southern District of New York has extended the time for Ambac Financial Group, Inc. to solicit votes on its Chapter 11 plan through December 5, 2011.

The Company is expected to hold more negotiation talks with objections parties to the plan within the extension period.

The Company has also filed its financial results for the second quarter ended June 2011, reporting a net loss of $102 million.

Details on the quarter financial results and the solicitation period extension, as well as other stories, are available at AMBAC BANKRUPTCY NEWS, Issue No. 28, published by Bankruptcy Creditors' Service, Inc.

The 16-page newsletter contains stories with these headlines:

[00230] COURT GIVES AFG MORE TIME TO SOLICIT VOTES ON CH. 11 PLAN
[00231] AMBAC FINANCIAL RELEASES SECOND QUARTER 2011 RESULTS
[00232] AFG OBTAINS COURT APPROVAL OF $27MM SECURITIES SETTLEMENT
[00233] DEBTOR'S OBJECTION TO NY FINANCE DEPT.'S $116-MIL. CLAIM
[00234] DEBTOR'S OBJECTION TO IRS'S $1.64 BILLION CLAIMS
[00235] AFG'S D&O CLAIMS BAR DATE EXTENDED TO SEPTEMBER 30
[00236] DEBTOR'S 1ST TO 16TH OMNIBUS OBJECTIONS TO CLAIMS
[00237] DEBTOR'S APPLICATION TO TAP BUTTNER HAMMOCK AS CONSULTANT
[00238] COMMITTEE'S APPLICATION TO RETAIN WHYTE HIRSCHBOECK
[00239] J. MORROS' LETTER REGARDING DISALLOWANCE OF $2,500 CLAIM
[00240] AMBAC ASSURANCE RELEASES 1ST QUARTER 2011 RESULTS


A copy of the newsletter can be purchased on-line with a major credit card at https://ecommerce.bankrupt.com/bin/ibl_re?co_name=AMBAC 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.

How to Subscribe to AMBAC BANKRUPTCY NEWS

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.

To continue receiving AMBAC BANKRUPTCY NEWS, please complete and submit the subscription form at https://ecommerce.bankrupt.com/bin/ibl_re?subco_name=AMBAC

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Contact Email:
***@bankrupt.com
Source:Bankruptcy Creditors' Service, Inc.
Phone:(215) 945-7000
Zip:19030
Location:Fairless Hills - Pennsylvania - United States
Industry:Finance
Tags:ambac, Ambac bankruptcy, bankruptcy, chapter 11, reorganization plan, second quarter financials, vote solicitation, plan
Shortcut:prlog.org/11621766
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