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Questions & Answers > Plan of Rehabilitation > The Rehabilitator is seeking a “No-action Letter” from the Securities and Exchange Commission. What is a “No-action Letter” and why is it needed?

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.

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A “No-action Letter” from the U.S. Securities and Exchange Commission is needed to confirm that no enforcement action will be recommended to the SEC relative to the issuance of the Surplus Notes provided in the Plan.

Last updated on October 8, 2010 by Ambac Policyholders Administrator