Ambac Rocky Balboa oder chapter 11

nicht die neuste news vom reuters, aber wenns noch nicht gepostet ist, dann bitte hier lesen:
Investors said Ambac misled them about risks

* Ambac filed for bankruptcy protection in November

NEW YORK, June 14 (Reuters) - A judge granted preliminary approval for Ambac Financial Group Inc    , insurers and some banks to pay $33 million to investors to settle litigation accusing the bond insurer of hiding the risks it took on by guaranteeing risky mortgage debt.

In an order made public on Tuesday, U.S. District Judge Naomi Reice Buchwald in Manhattan called the two settlements reached last month "fair, reasonable and adequate." She will consider final approval at a later date.

One accord calls for Ambac to pay $2.5 million already held in escrow, and insurers for its officers and directors to pay $24.6 million. The other accord calls for seven banks that underwrote Ambac debt to pay $5.9 million.  [nN96109375]  

Once the nation's second-largest bond insurer, Ambac filed for bankruptcy protection from creditors last Nov. 8. New York's highest court, the Court of Appeals, is reviewing a separate restructuring of larger rival MBIA Inc    , which like Ambac suffered large losses insuring risky mortgage debt.

Investors accused Ambac and officials like former Chief Executive Robert Genader of misleading them into believing the company insured only "the safest" transactions. They said Ambac then guaranteed billions of dollars of risky debt, and wrote credit default swaps to protect investors against default.

The lawsuit covered investors who bought Ambac stock and bonds between Oct. 25, 2006 and April 22, 2008, as well as a February 2007 Ambac subordinated debt issue known as a DISCS offering.

Lead plaintiffs are the Public School Teachers' Pension and Retirement Fund of Chicago, the Arkansas Teachers Retirement System and the Public Employees' Retirement System of Mississippi. The banks include Bank of America Corp    , Citigroup Inc    , Goldman Sachs Group Inc    , HSBC Holdings Plc    , JPMorgan Chase & Co    , UBS AG UBSN.VX>    and Wells Fargo & Co    .

The case is In re: Ambac Financial Group Inc Securities Litigation, U.S. District Court, Southern District of New York, No. 08-00411.

(Reporting by Jonathan Stempel, editing by Gerald E. McCormick)

((jon.stempel@thomsonreuters.com +1 646 223 6317; Reuters Messaging: jon.stempel.reuters.com@reuters.net)) Keywords: AMBAC/SETTLEMENT

Keywords: AMBAC/SETTLEMENT  

Zitat:
One accord calls for Ambac to pay $2.5 million already held in escrow, and insurers for its officers and directors to pay $24.6 million. The other accord calls for seven banks that underwrote Ambac debt to pay $5.9 million.  [nN96109375]  
Zitat Ende....

Sind mit "Million" in der US-Sprache nicht "100.000" gemeint?  

nein! eine Million ist auch eine Burger-Million, aber eine Milliarde ist eine Burger-Billion.

 

also eine Million. ich frage mich wann diese Takefu"ck" zahlung endlich kommt, wenn dies eine so sichere Sache wäre, dann würde sich dies im Kurs wiederspiegeln, nun hoffen wir auf diese Zahlung, plus den Sieg im Gericht gegen die Banken. nun wie gesagt, mit 190'000 Stück von Ambac Aktien in meinem Depot, ist mir das schon noch wichtig ;))  

gibt es hier noch Chancen auf Rettung?  

Chart sieht gut aus  

man kann hier nur 100% verlieren, aber 1000% gewinnen. Natürlich gibt es noch Hoffnung. Viele

Ami-Aktien wurden nach CH11 für die Mülltonne freigegeben, wie z.B. GM oder CIT group. Die Lage

bei ambac sieht allerdings anders aus. Immerhin steht theoretisch auf der Einnahmen-Seite ein

viel größerer Betrag als auf der Ausgaben-Seite.

 

http://www.ftd.de/unternehmen/finanzdienstleister/...ch/60071137.html  

jeden Tag die gleiche Nummer und das ganze bei nahezu 0 Volumen. Zur Zeit schon eine nervige

Angelgenheit.

 

Der Abschnitt, der mit "Although" beginnt.
http://www.scribd.com/doc/40076256/...Berman-Kore-Advisors-%C2%BB-Pri  

http://host.madison.com/wsj/business/...9-11e0-aafa-001cc4c03286.html  

http://www.teleboerse.de/boersenlexikon/...h-frei-article3697776.html  

Hi,

in der "getrübten" Erinnerung taucht bei mir der 06. Juli 2011 als ein bedeutsames Datum für Ambac auf. Was soll/kann da passieren?

MfG

 

 

Ich glaube das ist der Tag an dem von Ambac ein Rehabilitationsplan vorgelegt werden muß.
Genau 9 Tage bevor der Plan von A&P/Takefuju kommt, in dem die darlegen wollen, wann/wie und ob die 3,59 Mrd. $ gezahlt werden.....

(auch getrübte Erinnerung, denn WAMU nebelt derzeit das Hirn total ein)  :-)  

Hi,

danke für die Auffrischung des Erinnerrungsvermögens. Irgendwie hatte ich dazu noch eine Verschiebung im Sinn.

Ich merke, es ist weniger wegen Ambac,sondern eher wegen WaMu eine Reha für mich angesagt. Ich befürchte schon Entzugserscheinungen für die Zeit danach.

 

Mfg

 

bitte jeder soll selbst übersetzen;

Bank of New York Mellon Corp. filed a court petition seeking approval of an $8.5 billion settlement with Bank of America Corp. over residential mortgage- securitization trusts.

Bank of New York Mellon is to give notice of the accord to investors in the mortgage-backed securities, mortgage companies Fannie Mae and Freddie Mac, ratings companies, bond insurers including Ambac Assurance Corp. and MBIA Insurance Corp., and underwriters including Deutsche Bank AG and Goldman Sachs Group Inc.



Ausserdem;
von der ambacseite;
http://www.ambac.com/pdfs/Structured%20F...
und http://www.ambac.com/CABS/CABS.asp


Ambac hat die Klage gegen BACs mit den grossen Investoren wie z.B. Pacific Investment Management Co und anderen grossen investoren gemeinsam geführt.

http://www.finanznachrichten.de/...must-pay-for-rmbs-breaches-020.htm

http://www.businessweek.com/news/2010-09-29/...countrywide-bonds.html




http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/...0S9GL48PCJU7G.DTL


Bank of New York Mellon Corp. filed a court petition seeking approval of an $8.5 billion settlement with Bank of America Corp. over residential mortgage- securitization trusts.

BNY Mellon made the filing yesterday in New York State Supreme Court in Manhattan as trustee of 530 residential mortgage-securitization trusts established from 2004 to 2008. Investors claimed that Countrywide Home Loans Inc. and other sellers breached agreements.

The agreement requires Bank of America, the parent of Countrywide, or Countrywide, or both, to pay $8.5 billion into the trusts, with amounts based on past and expected future losses associated with the loans in each.

"This settlement resolves a significant portion of the Countrywide private label securitization exposure and it allows us to put this matter behind us and focus on running our business," Jerome Dubrowski, a spokesman for Bank of America, said in an interview.

Justice Barbara R. Kapnick of New York State Supreme Court in Manhattan yesterday set a hearing on the settlement for Nov. 17.

Bank of New York Mellon is to give notice of the accord to investors in the mortgage-backed securities, mortgage companies Fannie Mae and Freddie Mac, ratings companies, bond insurers including Ambac Assurance Corp. and MBIA Insurance Corp., and underwriters including Deutsche Bank AG and Goldman Sachs Group Inc.

While individual agreements govern each securitization, all contain representations that the mortgage loans conform to underwriting guidelines and conform to their descriptions in investor disclosure documents, the petition says. The loan documents also include servicing obligations, it says.

"A substantial dispute has arisen concerning the sellers' alleged breaches of representations and warranties in the governing agreements, and the master servicer's alleged violations of prudent servicing obligations," the petition says.

Institutional investors, whose current holdings are in the tens of billions of dollars, according to the filing, include Blackrock Financial Management Inc., Pacific Investment Management Company LLC, Federal Home Loan Mortgage Corp., Goldman Sachs Asset Management LP, Trust Co. of the West, and Teachers Insurance and Annuity Association of America.

The case is In the matter of the application of The Bank of New York Mellon, 651786/2011, New York state Supreme Court, New York County (Manhattan).

For more, click here.

Citigroup, Lehman Europe Settle Over $2.5 Billion in Assets

Citigroup Inc. and Lehman Brothers International Europe reached a settlement over assets valued at more than $2.5 billion that were held for the collapsed investment bank by Citigroup in a number of countries.

Citigroup agreed to immediately begin transferring assets held in custody for LBIE, which it kept while determining how it was affected by Lehman's collapse, PricewaterhouseCoopers, Lehman's U.K. administrator, said in a statement. Both parties will drop all claims against each other, PwC said.

"This is by far the largest single deal we have undertaken and easily the most complex to negotiate and then structure, given the sheer scale of the legacy relationship between Citigroup and LBIE," Paul Copley, a PwC restructuring partner who led the negotiations, said in the statement.

Before going into administration, LBIE and New York-based Citigroup entered into "a large volume" of agreements related to over-the-counter derivatives, stock lending, repurchase transactions, prime brokerage and trading arrangements, both on behalf of the banks and for third parties, LBIE said.

Read more: http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/...DTL#ixzz1QllIcMXE

 

zumindest bei den amis ;o)))  

.....warum hier alles wie einbetoniert feststeht.....

Ich kann zwar nicht besonders gut Englisch verstehen, und noch weniger alles was ausserhalb der Umgangssprache abläuft, aber, das was Leopard eingestellt hat, ist doch schon mal ganz gut, wenn ich es richtig gedeutet habe.....

Ist halt bloß die Frage nach der Quote, die Ambac dann zusteht, und die die bekommen würden........  

http://www.cnbc.com/id/43605890

 

......gibt's denn was zu feiern?

Am Kurs kann man jedenfalls nix erkennen, was zu feiern lohnt...........

:-(  

.....lesen sollte man können...........

tschulligung storm  

dann ist das immernoch besser als nichts ! ;)  

....Kalender...... http://www.my.calendars.net/wmi

Gibt es sowas auch für Ambac?  

Hi Memory und andere,

danach habe ich auch schon Ausschau gehalten. Dabei bin ich lediglich auf den 08.08.2011 gestoßen an dem die Quartalszahlen für das 2. Quartal veröffentlicht werden sollen. www.finanzen100.de

MfG

 

 

Datum Unternehmen Ereignis Land
Mo 08.08.2011 AMBAC FINANCIAL GR.. Full year 2010 AGM (bestätigt) USA
Mo 08.08.2011 AMBAC FINANCIAL GR.. Q2 2011 Results (bestätigt) USA