Ambac Rocky Balboa oder chapter 11

"Municipal issuers and investors didn't stand a chance against the fraudulent strategies JPMS and others used to guarantee profits," said Robert Khuzami, the SEC's top enforcement officer.

http://money.cnn.com/2011/07/07/news/companies/...ec_muni_settlement/

Sicherlich gibt es einen neuen POR. Mal sehen was wird.  

NEW YORK (AP) -- Ambac Financial Group Inc. has filed a  reorganization plan with the U.S. Bankruptcy Court for the Southern  District of New York.

The holding company for failed bond insurer  Ambac Assurance Corp. did not detail the terms under which it would exit  bankruptcy court protection when it filed the plan late Wednesday.

The  company sought Chapter 11 bankruptcy protection in November, after two  years of trying to stave off collapse brought on by the crumbling  housing market.

Once the second-largest bond insurer in the U.S.,  Ambac Assurance Corp., its main operating subsidiary, was taken over by  Wisconsin regulators in March 2010. The Wisconsin insurance commissioner  acted because of fears the company would run out of money paying claims  on policies backing risky structured finance transactions -- the credit  default swaps, residential mortgage-backed securities and other  complicated securities deals that helped fuel the financial crisis in  2008.

Ambac Financial is based in New York, but Ambac Assurance,  is based in Wisconsin, which makes it subject to that state's  regulators.

Bond insurers were once considered among the most  stable companies, because they backed mostly government agencies selling  debt to pay for municipal projects like road construction and school  building -- creditors that rarely default.

That changed in the  late 1990s, when the companies started guaranteeing financial  instruments backed by risky home and commercial loans. When the housing  market began deteriorating, it soon became clear that companies like  Ambac had provided coverage for more than they could handle.

Ambac  spent the better part of two years trying to raise enough capital to  cover its obligations before finally seeking bankruptcy protection. In  its initial filing, it listed $1.62 billion in debt and $394.5 million  in assets.

The reorganization plan would give new stock and  warrants, or the right to buy stock at a specific price, to various  unsecured creditors and holders of $1.25 billion in senior debt. Holders  of $444.2 million in subordinated debt would receive 1.5 percent of the  new stock, plus warrants.

The plan still needs agreement from the Wisconsin insurance commissioner and Ambac Assurance.

http://finance.yahoo.com/news/...s-bankruptcy-apf-1938892969.html?x=0

 

....meinst Du, die können einfach so "ignorant" agieren, obwohl da noch einige Milliarden (die ggf. 10 mal zu Schuldenbegleichung reichen) noch kommen können.......

Da war ja erst vor 2 Wochen Wochen so ein Ding (LVM).
190 Millionen bezahlt, und ne Milliarde Schulden weg......
http://www.ariva.de/...a_oder_chapter_11_t376704?page=229#jumppos5731

....und A&P haben auch noch keinen Zahlungsplan vorgelgt, oder?  

....bischen rumgestöbert!

z.B.:
http://www.ariva.de/...a_oder_chapter_11_t376704?page=218#jumppos5459
Zitat:
Laut ambac werden von den Rückkaufaktion im 2012  980 million dollar ; im 2013 1,765 millarden dollar erwartet.
Zitat Ende

dann:
Aus Aktienbase von Gyuri1975
....Deshalb hängt der Aktienwert nach einer der Chapter-11-Insolvenz hauptsächlich vom Verhältnis des Unternehmenswertes zur Summe der Schuldenforderungen ab.

Ambac:
Valuation Measures
Market Cap (intraday)5: 40.83 Mio.$
Enterprise Value (May 3, 2011)3: 18.88 Mrd.$

Schuldforderungen inkl. IRS ~ 1,9 Mrd. $ (inzwischen sogar noch weniger)

..............  

Was meint Ihr,

können die mit uns das gleiche machen wie mit den "CIT-Aktionären"?
Überschuß vorhanden und doch ausbuchen...
http://de.wikipedia.org/wiki/CIT_Group

Meinung "ThisismyLife" - Aktienbase.....
Zitat:
Bei CIT gab es auch ein paar Mrd über und trotzdem wurden die Aktien ausgebucht, weil man ganz unten von der Kette ist.
Zitat Ende...

Ambac ist doch bis zum 06.12.2011 + 30 Taghe in CH11.
Genehmigt und Punkt.....

in.....#5829 habe ich es doch mal beschrieben, diese Zahlen berufen sich allerdings auf eine Analyse aus Aktienbase........
Gut die 18,88 Mrd. siind nicht Cash, sondern langfristige definitive Geldzuflüsse.......
....aber, ist das relevant?  

gute Frage. Ich traue den Amerikanern keinesfalls.  

wohl wieder schnell eine große stückzahl verkauft. Sollte der Kurs ja eigentlich wieder gleich bei 0,07 sein.

Ich glaub ich steig dann mal wieder ein.

 

07 July 2011

Ambac Financial Group filed a plan of reorganization that would see it emerge from Chapter 11 protection in the hands of senior bondholders. As expected, however, recovery for the bankrupt company’s creditors depends on its ability to hold on to tax refunds which the IRS is looking to claw back and the use of net operating losses, valued at US$7.2bn.

http://www.ifre.com/restructuring-ambac-files-plan/643610.article  

 

By Tiffany Kary and Joel Rosenblatt - Jul 7, 2011 5:10 PM GMT+0200 Tweet inShare1More
Business Exchange Buzz up! Digg Print Email Ambac Financial Group Inc. (ABKFQ), the bankrupt holding company for a failed bond insurer, proposed a reorganization plan that still needs agreement from a Wisconsin regulator and its operating unit.

Ambac filed its plan yesterday in U.S. Bankruptcy Court in Manhattan without an agreement with the Office of the Commissioner of Insurance, the Wisconsin regulator overseeing the wind-down of its failed bond insurer, Ambac Assurance Corp. The plan didn’t include a disclosure statement that details the terms of a bankruptcy exit.

The plan proposes that Ambac Assurance would get $4 billion in net operating losses to offset income for tax purposes, and estimates an equity value for a reorganized Ambac Financial at $750 million.

Since Ambac Financial filed for Chapter 11 protection in November, it has clashed with constituents, including its operating unit, over who gets $7.3 billion in net operating losses to use for tax benefits. The Internal Revenue Service has challenged tax claims by both companies.

“We agree with the material, substantive terms,” said Anthony Princi, a lawyer representing unsecured creditors in the case, in a phone interview. “There are certain provisions that we’re not in full agreement with but for the most part we are supportive,” he said.

Under the proposal, new stock and warrants would go to general unsecured creditors and holders of $1.25 billion in notes. If those noteholders accept the plan, holders of $444.2 million in subordinated notes would get 1.5 percent of the stock plus warrants.

Resolving Disputes
If the Wisconsin regulator accepts the plan, disputes will be resolved and the operating company can exit bankruptcy. If it rejects the plan, Ambac Financial could convert to a Chapter 7 and liquidate, or transfer more than 20 percent of its stock in the operating unit to a limited liability company, named AFG Prime, or another third party, causing “deconsolidation,” and the loss of any tax benefit, the plan said.

Peter Ivanick, a lawyer representing Ambac, told U.S. Bankruptcy Judge Shelley Chapman in May that if a plan was filed without the Wisconsin regulator’s permission, it would be viewed as a “declaration of war.” Ivanic said the commissioner’s offers at the time were “disappointing,” and that negotiations were at a standstill until better terms were offered.

‘No Evidence’
Separately, the New York City Department of Finance said yesterday that there is “no evidence at all” to support Ambac’s claim it doesn’t owe $116.8 million in taxes. Ambac had said in May that New York’s tax methodology was “illogical” and couldn’t be proven. The response from New York says Ambac has failed to prove it doesn’t owe the taxes, and includes 18 attachments including its tax returns from 2000 to 2010.

Ambac Assurance, an operating unit of New York-based Ambac Financial, was the second-largest bond insurer before the 2008 financial crisis, when mounting defaults on mortgages swamped the company with claims. It guaranteed about $256 billion of $1.4 trillion in insured municipal debt, according to Bloomberg data.

Ambac Financial filed a Chapter 11 bankruptcy in November, listing assets of $90.7 million and liabilities totaling more than $1.6 billion, virtually all unsecured.

The holding company case is In re Ambac Financial Group Inc. (ABK), 10-15973, U.S. Bankruptcy Court, Southern District of New York (Manhattan).

To contact the reporters on this story: Tiffany Kary in New York at tkary@bloomberg.net; Joel Rosenblatt in San Francisco at jrosenblatt@bloomberg.net

To contact the editors responsible for this story: Michael Hytha at mhytha@bloomberg.net; John Pickering at jpickering@bloomberg.net
http://www.bloomberg.com/news/2011-07-07/...n-for-reorganization.html  

.....Gestern kam erst die ehemalige JPM-Schrulle (Diana Adams), die sich evtl. hochge..... hat, (derzeit ist se ja die Ambac-Cheffin), die einen POR eingestellt hat, aber dann hat OCI Einspruch gegen eingelegt....

Aber:
CH11 besteht doch noch bis zum 06.12.2011 + 30 Tage, oder?
Dann warten wir noch auf den Zahlungsplan von A&P (die Talefuji-Käufer)
Dann gibt es doch noch einiges was an Geld kommen kann (Gerichtsverfahren/Schadenersatz)
oder aber Häuslebauer, dessen Kredite über Ambac abgesichert wurden, und die von den Großbanken "gearscht" wurden....

oder oder oder

http://www.ariva.de/...a_oder_chapter_11_t376704?page=218#jumppos5459

http://www.ariva.de/...a_oder_chapter_11_t376704?page=233#jumppos5829  

http://www.google.de/imgres?imgurl=http://...SkDw&ved=0CCMQ9QEwAg

hier isse, die ......sag ich nicht......  

 

Man hätte Buffet das Munibook gleich für 40 Milliarden verkaufen sollen. Vielleicht bietet er ja noch ein mal mit. Hoffen wir es unter CH7.

Das Munibook ist 310 Milliarden groß und generiert jedes JAhr über 800 Millionen Dollar Ertrag pro Jahr, bei leichter Abnahme hat es Vertragslaufzeiten bis 2098. Dies macht AMBAC zur goldenen Ganz. Sollen sie es doch verkaufen und die statutischen Reserven nutzen um sich frei zu kaufen. Besser als das die Firma verschoben wird.  

würde das bedeuten, dass die Aktionäre eine Liquidationserlös erhielten?  

grausam hier  

http://www.world-of-stocks.com/rt_data/abk

 

kommt übers WE eine eintscheidende Nachricht, was mit den Aktionären passiert? Vieleicht sogar

heute Abend?

 

würde meine gerne zu 0,060 loswerden....aber keiner will se  

dann stell sie eben für 0,03 rein, dann nehme ich dir 100K ab

 

 

 

Dafür gründen die ja die AFG Prime extra. Eigentlich eine gute Sache, wenn man den Wert des Munibook bedenkt.  

....dann stell se doch für den Preis zum Verkauf...........

geht auch automatisch, sodass Du dich nicht mehr drumm kümmern brauchst........  

Wieso hält sich der Kurs genau am derzeitigen Aktienmengen/Marktkapitalisierungsverhältnis..........

....und bercüksichtigt nicht das Munibook?