Ambac 1, Patriots 0 In Bond Insurance Dispute

Law360, New York (February 26, 2010, 2:36 PM EST) -- The New England Patriots had a tough end to the 2009 season on the field, and 2010 isn’t starting out much better off the field following a ruling against the team’s financial arm in a contract dispute with bond insurer Ambac Assurance Corp.

In a summary judgment ruling Thursday, Judge Douglas P. Woodlock of the U.S. District Court for the District of Massachusetts said NPS LLC, the unit that secured funding for the team’s stadium, was in breach of contract when it refused to pay Ambac...
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