Assured Wants Arbitration In Ambac Reinsurance Fight

Law360, New York (April 11, 2011, 2:37 PM EDT) -- Assured Guaranty Corp. sought Friday to compel arbitration against Ambac Assurance Corp. in a dispute over whether Assured, which reinsured Ambac policies potentially worth tens of millions of dollars, should pay cash to cover its obligations under Ambac-issued surplus notes.

Because the surplus notes represent debt that has not been paid and may never be paid, Assured should not have to put up cash now, Assured said in a complaint filed in the Supreme Court of the State of New York, County of New York....
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.