Ambac Won't Change Ch. 11 Filing Date Over Wis. Row

Law360, New York (May 25, 2011, 7:41 PM EDT) -- Ambac Financial Group Inc. on Wednesday voiced disappointment in New York bankruptcy court with a recent offer from the Wisconsin regulator overseeing its bankrupt bond insurance business but said the dispute won't change plans to file a reorganization plan in June.

In a hearing, Ambac attorney Peter Ivanick of Dewey & LeBoeuf LLP said the Wisconsin's Office of the Commissioner of Insurance's latest outline of a proposed agreement that would resolve disputes between Ambac and the OCI-administered Ambac Assurance Corp. was disappointing.

The attorney said Ambac...
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