Ambac Rocky Balboa oder chapter 11

rechne nicht damit, sie zu bekommen...  

besten dank für die wertvollen Beiträge. Bin zurzeit in Ungarn und verfolge den Kurs. Vor grösseren Entscheidungen schwankt der Kurs meistens gegen unten. Hoffen wir auf gerechte Entscheidungen 16. und 23! Blessings Levi  

 

Kurs hoch, Kurs runter, Kurs hoch.....................................

Ich glaube ganz ehrlich das dieses Papier so etwas nicht verdient hat!

Von allen Zockerpapieren, z.Bsp. Lehman, Wamu, steckt hier die größte Substanz drin.

Schönen Tag für alle!!

 

 

da hat eben jeder seine eigene Meinung. Bei den Amis geht es ja nur darum Anleger um ihr Geld zu bringen.  

Bankrupt Ambac Fights U.S. Tax Collectors in Three Courts

http://www.bloomberg.com/news/2011-02-16/...-collection-update1-.html

Lawsuit Alleges Banks Pocketed Payments for Bad Mortgages

http://www.africanaonline.com/2011/02/...-payments-for-bad-mortgages/

http://dealbook.nytimes.com/2011/02/16/morning-take-out-184/

Benchmark Bond Ratings Provides Credit Ratings for Municipal Bonds

http://www.businesswire.com/news/home/...edit-Ratings-Municipal-Bonds

 

..alle Altaktionäre zu verabschieden! Diese Betrugsmasche hat für die Finanzmonarchie reizvolle Aspekte..ich glaube mittlerweile, das es genau darauf hinausläuft.Höchstwahrscheinlich wird Ambac saniert und neue Aktie auf den Weg gebracht! Die kleinen bezahlen die Zeche..naked shortselling ist ja verboten! Komisch das die Ami´s das aber weiterhin praktizieren!Oder wie ist der derzeitige Kurs sonst noch zu erklären?! Leider Gottes habe ich schon vor CH11 massiv in Ambac investiert! Ich war von der Aktie überzeugt und habe an eine Turneround geglaubt.Nun zocke ich nur noch auf tages und wochenbasis, in der Hoffnung einen kleinen Teil meines Einsatzes wieder reinzuholen..eigentlich hasse ich es an solchen Insozocks teilzunehmen..am Ende werden skrupellos alle Kleinaktionäre abgekocht..bei citgroup war ich leider auch schon dabei..auch schon vor CH11 und am Ende kam dann die Ausbuchung und somit auch der Totalverlust..warum sollte es in diesem Fall anders laufen....ich möchte niemanden seine Hoffnungen vermiesen..ich wäre dankbar wenn ich mich irren sollte..am besten 5€ noch heute mittag

 

Den wer aufgepasst hat, der weiß das auf die Aktien 4,5 Mrd NOL gebunden sind und dafür erhält die Holding 59 Mio pro Jahr + 1 Mrd von der AAC, die kann dafür die 4,5 Mrd NOL nutzen. So der Sanierungsplan: Für jeden Gewinn erhält die AFG also den Steueranteil von ca. 30%, für den die AAC die Steuergutschrift der AFG nutzt um keine Steuer zu zahlen.

Die IRS hat das Problem das sie die 700 Mio laut Sanierungsplan erhalten. 25% sofort und die anderen 75% mit 8% Zinsen per anno in den nächsten 9 Jahren, was mehr ist als bei Ratenzahlung beim Finanzamt die alle mit 6% per anno rechnen. Da ist merkwürdig das die IRS lieber weniger haben will und vor Gericht klagt, nur weil es ihr um das Prinzip geht und deshalb hat sie bis jetzt verloren.

Der passive Wert der Aktien bezieht sich also auf ca. 30% von 4,5 Mrd = 1,35 bis 1,5 Mrd
und daher ca. $ 5 Dollar pro Aktie.

Gruß Marlboromann  

zahlen müßten um Ch11 zu verlassen, in den letzten drei Wochen.  

ist es, dass die IRS gegen verstösst, die sie selber getroffen hat....siehe der erste von Storm eingestellt Artikle in Posting 4881.

Das passt irgendwie alles nicht zusammen....wenn ich was erreichen will, halte ich mich an das Verfahren...und breche es nicht, denn dann stehen die Chancen vor Gericht nicht gerade besser!  

 Wann kommen denn hier mal wieder entscheidende News?!

 

Ambac plant ihr Reorganisationsplan mit OCI. Beide haben am 28.02 einen wichtigen Termin.

aber müssen wir  erst am morgen beim CH11 court und dann am 23.02.2011 bei Wissc.court die Positive Nachrichten bekommen.

Ich glaube dran, wir kriegen hin!

Morgen werden folgende Themen diskutiert;

http://www.kccllc.net/documents/1015973/1015973110216000000000131.pdf

CONTESTED MATTERS:

3. Debtor’s Motion Pursuant to Section 1121(d) of the Bankruptcy Code for an Order
Extending Its Exclusive Periods to File a Chapter 11 Plan and Solicit Acceptances
Thereof [Docket No. 151]

Response Deadline: February 9, 2011 at 4:00 p.m. The Debtor extended the deadline for
the Statutory Committee of Creditors to respond until February 15, 2011.
Responses Received:
a) Objection to Debtor’s Motion Pursuant to Section 1121(d) of the Bankruptcy
Code for an Order Extending Its Exclusive Periods to File a Chapter 11 Plan and
Solicit Acceptances Thereof [Docket No. 164]
Additional Document(s):
b) Affidavit of Anthony Princi in Support of the Official Committee of Unsecured
Creditors' Objection to Debtor's Motion Pursuant to Section 1121(d) of the
Bankruptcy Code for An Order Extending its Exclusive Periods to File a Chapter
11 Plan and Solicit Acceptances Thereof [Docket No. 165]
c) Affidavit of Ari Lefkovits in Support of Objection to Debtor's Motion Pursuant to
Section 1121(d) of the Bankruptcy Code for an Order Extending its Exclusive
Periods to File a Chapter 11 Plan and Solicit Acceptances Thereof
[Docket No. 166]
Status: This matter is going forward. The Debtor intends to file a reply in advance of the
hearing.
II. Ambac Financial Group Inc. v. United States Of America
Adv. Proc. No. 10-4210

4. Debtor’s Motion for Pretrial Conference and Pursuant to Section 105(a) of the
Bankruptcy Code and General Order M-390 for Authorization to Implement Alternative
Dispute Resolution Procedures [Docket No. 23]
Response Deadline: February 9, 2011 at 4:00 p.m. The Debtor extended the deadline for
the United States of America to respond until February 11, 2011 at
4:00 p.m.
Responses Received:
a) United States’ Objection to Debtor’s Motion for Pretrial Conference and Pursuant
to Section 105(a) of the Bankruptcy Code and General Order M-390 for
Authorization to Implement Alternative Dispute Resolution Procedures
[Docket No. 27]
Additional Document(s): None
Status: This matter is going forward.

5. Motion to Enforce Temporary Restraining Order Pursuant to Sections 105 and 362(a) of
the Bankruptcy Code and Rule 7065 of the Bankruptcy Rules [Docket No. 29]
Response Deadline: February 17, 2011 at 12:00 p.m.
Responses Received: None
Additional Document(s):
a) Order to Show Cause to Enforce Temporary Restraining Order signed on
2/15/2011 [Docket No. 28]
b) Declaration of Lawrence M. Hill [Docket No. 30]
Status: This matter is going forward.
Dated: February 16, 2011 Respectfully Submitted,
New York, New Yor

 

auch schon was bekannt gegeben?bestimmt erst nach Börsenschluss nehme ich mal an.?hätte mir für heute ein bißchen mehr "Action" versprochen..kann ja aber noch kommen..?  

AMBAC bekommt von Takefuji noch 302 Mrd Yen, damit ist AMBAC der größte Gläubiger von Takefuji. Dies sind gute $3 Mrd.
Ende März soll Takefuji verkauft sein, also müssen wir gar nicht mehr lange hier zittern.
Die Gebotsfrist endet unter den letzten 5 besten Angeboten von über 20 Bietern am 10 März.

* Five bidders in the running for Takefuji - administrator

* Ability to secure funds a key factor - administrator

* Some Takefuij assets may be sold to others - administrator

* Takefuji failed in last year owing $5.3 bln

By Junko Fujita

TOKYO, Feb 1 (Reuters) - The new owner of Takefuji Corp, a Japanese consumer lender that failed last year with more $5 billion in debt, will be chosen next month from a field of five bidders, the official overseeing the sale said on Tuesday.

Investment funds Cerberus Capital Management [CBS.UL] and TPG [TPG.UL], Japanese lenders Tokyo Star Bank and J Trust Co (8508.OS) and Korea's A&P Financial advanced to the final round of bidding, sources told Reuters last month. [ID:nTOE70B06R]

Eiichi Obata, the court-apppointed administrator in charge of the sale, confirmed at a media briefing that there were five bidders left but did not name them. He said the bidding would close on March 10 and a buyer chosen by the end of the month.

Bidders are planning to offer between 60 and 80 billion yen 60 billion yen ($732 million to $976 million) to buy Takefuji, sources have said, eyeing the chance to build a presence in Japan's once lucrative consumer finance market.

http://www.reuters.com/article/2011/02/01/...ji-idUKTOE71006Q20110201  

Ambac Aims to Stop IRS Suit in Federal District Court

Ambac Financial Group Inc., the parent holding company for an insurance company partially in rehabilitation, will be in bankruptcy court today looking for a preliminary injunction to stop the U.S. Justice Department from continuing a lawsuit filed on behalf of the Internal Revenue Service in a federal district court in Wisconsin.

The suit for the IRS aims at setting aside an order from a Wisconsin state court prohibiting the IRS from collecting taxes from subsidiary Ambac Assurance Corp., the municipal bond insurer with $50 billion in policies undergoing rehabilitation.

The Ambac parent contends the suit for the IRS violated an agreed order signed by the bankruptcy judge in November where the government agreed to give five days’ notice before taking any action to collect taxes. Ambac wants the Wisconsin federal court suit halted by the bankruptcy judge for failure to give the required five days’ notice.

Ambac said in its papers this week that the IRS suit could wreck both the subsidiary insurance company’s rehabilitation and the parent’s Chapter 11 case. The IRS, among other things, is likely intent on recovering $700 million in refunds paid last year, most of which went to the insurance subsidiary.

Click here for the story in the Nov. 10 Bloomberg bankruptcy report about the disputes with the IRS, and click here for the Feb. 11 Bloomberg bankruptcy report and a rundown on the new suit on behalf of the IRS.

At today’s hearing, the creditors’ committee is opposing Ambac’s requested six month extension of the exclusive right to file a plan. The committee says no plan is yet filed because company executives are “hopelessly conflicted” given that they also serve as officers for the insurance subsidiary.

The committee says the only plan they will support would contain provisions disadvantageous to the subsidiary.

The committee listed several disputes standing in the way of a plan for the parent. The principal unresolved issue involves how tax-loss carryforwards will be shared between parent and subsidiary.

In January the Wisconsin state court approved a plan for rehabilitation of the part of Ambac Assurance that’s in rehabilitation. Policy holders are to receive 25 percent in cash and the remainder in notes.

The insurance subsidiary stopped paying dividends to the parent in 2007 and stopped writing new business entirely in mid-2008. The Ambac parent filed under Chapter 11 in November. The Ambac parent listed assets of $90.7 million and liabilities totaling $1.624 billion, virtually all unsecured. Nearly all the debt is made of up $1.622 billion owing on seven note issues. One issue for $400 million is subordinated.

The new suit for the IRS is U.S. v. Wisconsin State Circuit Court for Dane County, 11-00099, U.S. District Court, Western District of Wisconsin (Madison). The state case is In re The Rehabilitation of Segregated Account of Ambac Assurance Corp., 2010cv001576, Dane County, Wisconsin, Circuit Court (Madison). The parent’s Chapter 11 case is In re Ambac Financial Group Inc., 10-15973, U.S. Bankruptcy Court, Southern District of New York (Manhattan).

http://www.bloomberg.com/news/2011-02-17/...lank-mers-bankruptcy.html

 

http://www.huffingtonpost.com/2011/02/16/jpmorgan-fraud_n_824164.html

 

http://stockparlay.com/v2/ta.php?code=ABK

Debtor's Reply to USS Extension Objection

 

http://www.kccllc.net/documents/1015973/1015973110217000000000001.pdf

 

welchem Zielbereich ?  

 

 

Ambacs grösste Vemögen ist die assets von ACC. Ihre Rettung vom CH11 Verfahren ist auch widerum  Abhängig von dem erfolgreichen AAC Reh. Plan.

Bei diesem Schreiben erzählt ambac darüber noch deutlicher und klare:

http://www.kccllc.net/documents/1015973/1015973110217000000000001.pdf

seite 2;

Despite the Committee’s contrary assertions, no chapter 11 plan exists today that
will satisfy the Committee and not inflame OCI, thereby increasing the risk of the loss of all of
AAC to rehabilitation proceedings, at a time when the Segregated Account of AAC has
successfully confirmed a plan of rehabilitation preserving value for its policyholders and its
common shareholder, the Debtor. And, neither the Debtor’s management nor its counsel is
conflicted, let alone “hopelessly conflicted.” Obj. ¶2. As the Debtor’s primary operating
subsidiary, AAC is the Debtor’s most valuable asset, and its management and attorneys are
focused on preserving and harvesting AAC’s value for the Debtor’s creditors. Indeed, without
AAC, the Debtor is simply a holding company in debt. The Debtor’s value and future viability
are directly related to, and dependent upon, the value and future viability of AAC.

 

AFG wert und künftige Überlebenchance ist abhänging von den Wert und der künftigen Überlebenschance von AAC!

Dieser letzte Satz erzählt vieles und wie wichtig AAC für ambac(AFG) ist

und noch

seite 11

Notwithstanding its “simple capital structure,” the Debtor is a holding company
with $1.6 billion of unsecured debt and owns AAC, a large and complex financial guarantee
insurance company which has outstanding financial guarantee exposures of more than $300
billion. See Mot. ¶¶10-13. In order for the Debtor to reorganize successfully, AAC’s value must
be preserved. The Debtor has therefore had to focus a significant amount of time on the
Rehabilitation Proceedings of AAC’s Segregated Account in Wisconsin. Entry of the Order
Confirming the Rehabilitation Plan of the Segregated Account of AAC is a significant step
forward in the process of conserving AAC’s value for the benefit of AFG

 

seite 13; Das Ambacs Plan, um max. value und das Erfolg von allen Partein zu erzielen, braucht man folgende Schritte;

- The best chance for maximizing value is a quadripartite, consensual plan
among the Debtor, OCI, the IRS, and the Committee.

-The next best option is a tripartite,consensual plan among the Debtor, OCI, and the Committee.

 

-If no such plan is possible, the
Debtor can file a plan supported by the Committee or one supported by OCI and/or the IRS.
These options remain open to the Debtor, so long as its Exclusive Periods are extended.

 

Über den nächsten wichtigen Termine;

the Debtor expects within the next few
days to receive from OCI a revised term sheet and has asked the Committee and its professionals
to meet on Tuesday, February 22 and Wednesday, February 23 with OCI and the Debtor.

und noch the Debtor hopes to reach the terms of a consensual plan prior to
the February 28, 2011 deadline with OCI and the Committee, the Debtor is also realistic about a
shortened extension and recognizes that, even under the best circumstances

If by February 28, however, it becomes apparent to the Debtor that an agreement
cannot be reached, it will then determine what alternative plan should be filed. The Debtor will
not, however, be bullied into filing the Committee’s plan merely because the Committee insists
that it do so.

 

 

 

 

 

 

 

- Erste stuffe ist jetz das erfolgreich

 

a. Confirmation of a plan of rehabilitation of the Segregated Account of
AAC restructuring AAC’s non-performing books of business for 25% in
cash and 75% in surplus notes of Segregated Account;

 

b. Commutation with credit-default swap counterparties eliminating
approximately $16.5 billion in par value of collateralized debt obligations
of asset-backed securities, mainly residential mortgage backed securities,
for a combination of $2.6 billion in cash and $2 billion in surplus notes of
AAC;

c. Settlement of approximately $472 million in exposure on Las Vegas
Monorail (“LVM”) bonds that, upon approval in the State Rehabilitation
Court, will effect (a) a commutation (i) completely release AAC in
exchange for $111 million in cash and $90 million in surplus notes of
Segregated Account, and (ii) transfer of AAC-owned bonds to the LVM
trustee, or (b) a purchase offer alternative in the event that the
commutation does not occur in time;

d. Settlement with The Weinstein Company, which occurred on July 29,
2010, which relieved the Segregated Account of approximately $450
million of potential liability in exchange for a cash payment of $65 million
and a surplus note of $50 million;

e. Development of a representation and warranty litigation strategy against
Countrywide and Bear Stearns resulting in the elimination of a $2.5 billion
item listed as liability on AAC’s balance sheet;

f. Commutation of all reinsurance liabilities, aggregating $384 million, in
respect of the reinsurance agreement between AAC and its subsidiary,
Ambac Assurance UK Limited, at no cost; and

g. Settlement of a substantial reinsurance claim realizing approximately $200
million.

 

Der IRSs Antrag wurde von "THE UNITED STATES DISTRICT COURT FOR THE WESTERN DISTRICT OF WISCONSIN" nochmals abgelehnt.

seite2;

Although the United States attempts to distinguish this case from the previously
remanded proceedings by arguing that the propriety and legality of removal is no longer an
issue, this distinction does not change my earlier conclusions regarding jurisdiction. Because
I conclude that this court lacks jurisdiction over the United States’ claims for injunctive
relief, I will dismiss this case.

 

 

ORDER

IT IS ORDERED that this case is DISMISSED for lack of subject matter jurisdiction.
Entered this 17th day of February, 2011.
BY THE COURT:
/s/
BARBARA B. CRABB
District Judge

 

http://www.reuters.com/article/2011/02/18/ambac-idUSN1828958420110218

A federal judge dismissed a suit filed by the U.S. Justice Department over the restructuring of bond insurer Ambac, saying on Friday that the court did not have jurisdiction over the issues.

 

Ambac Assurance Corp, a unit of failed bond insurer Ambac Financial Group (ABKFQ.PK), is in the midst of a rehabilitation that is being overseen by the Wisconsin Commissioner of Insurance.

At issue are about $700 million in taxes that the Internal Revenue Service may seek to recover. Last year, a Wisconsin state court issued a temporary injunction preventing the IRS from going after the taxes while the rehabilitation process was underway.

The government tried to move that case to federal court last year and dissolve the injunction, but its request was denied. It is appealing that ruling and had filed this suit as a separate measure