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Questions & Answers > Policyholders > What happens to the policies on bonds issued for the Las Vegas Monorail?

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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The policies insuring bonds issued for the Las Vegas Monorail will be transferred to Segregated Account. After the moratorium period, it is anticipated that these policyholders will receive a certain percentage of their claim(s) in cash and the remaining percentage of their claim(s) in notes. The initial distribution percentages and payment mechanics will not be finalized until the Plan of Rehabilitation is approved by the Court.

Last updated on March 24, 2010 by Ambac Policyholders Administrator