Ambac, US Name Mediator In $700M Tax Dispute

Law360, New York (March 21, 2011, 5:11 PM EDT) -- The U.S. government and Ambac Financial Group Inc. told a New York bankruptcy court Friday that they've tapped a former federal judge to mediate competing claims over $700 million in tax liabilities the bankrupt insurer wants to shield from the U.S. Internal Revenue Service.

An attorney for Ambac said in a letter to the U.S. Bankruptcy Court for the Southern District of New York that the parties had mutually selected retired Judge James Robertson to serve as the mediator in the case, based on a March...
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