Ambac Given Until December to Solicit Votes on Reorganization Plan

Aug. 11, 2011 - PRLog -- 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


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AMBAC BANKRUPTCY NEWS tracks the restructuring of Ambac Financial Group Inc.

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