Plan of Rehabilitation Questions & Answers > Rehabilitation (11 entries)
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.
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The Plan of Rehabilitation (the Plan) for the Segregated Account of Ambac Assurance Corporation (Segregated Account) is a document that details how holders of policies that have been allocated to the ...
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The Plan provides for the orderly run-off and/or settlement of the liabilities allocated to the Segregated Account. If the Plan is confirmed by the Court, holders of valid policy claims will ...
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The Disclosure Statement provides information about the Plan and the Rehabilitation Proceeding. Unlike a disclosure statement and plan of reorganization submitted to a bankruptcy court under title 11 of the United ...
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The decision to adopt a 25%/75% split was guided by the need to preserve sufficient cash to pay all valid policy claims, including those that exist today and those that may ...
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No, the Plan provides the final treatment of claims against the Segregated Account, subject to changes approved by the Rehabilitator and the Dane County Circuit Court.
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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 ...
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The court hearing on confirmation of the Plan will resume Nov. 30. After that hearing, the court will decide whether to confirm the Plan. If the Plan is confirmed, and certain ...
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The Plan will become effective as soon as certain conditions set forth in the Plan have been satisfied, including, but not limited to, entry of the confirmation order, receipt of a ...
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Yes, installment premiums must still be paid in order to continue coverage under policies allocated to the Segregated Account. There are no changes to how you make your premium payments.
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Yes. The Rehabilitator will provide to the Court an annual report on the plan no later than June 1 of each year.
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Yes. Interested parties are invited to submit their questions about the Plan of Rehabilitation by filling out the form .