Plan of Rehabilitation Questions & Answers > Rehabilitation > What does the Plan of Rehabilitation do?
Refer to Notices from the Rehabilitator regarding the status of the Plan of Rehabilitation
The following questions and answers are provided to the general public for informational purposes only. They are not legal documents and do not bind the Segregated Account of Ambac Assurance Corporation, the Office of the Commissioner of Insurance, or the Rehabilitator to any position or interpretation of the rehabilitation court's orders in these proceedings, now or in the future. Interested parties should review the court documents available on this site and consult their own legal counsel with any questions they may have regarding any effect this rehabilitation proceeding may have on their legal rights and obligations.
If you have a question that is not answered below or in the general Q&A section, please fill out and submit the question form.
Search the FAQ for entries containing:
The Plan provides for the orderly run-off and/or settlement of the liabilities allocated to the Segregated Account. The Plan was confirmed by the Court on January 24, 2011. Holders of valid policy claims will receive will receive a combination of cash payments and unsecured notes bearing 5.1% interest that are scheduled to mature in year 2020. The initial cash/surplus note split will be 25% cash and 75% surplus notes. As a result, holders of valid policy claims will receive cash equal to 25% of those claims, and surplus notes with a face value equal to 75% of such claims.
Last updated on January 28, 2011 by Ambac Policyholders Administrator
