Sublessee Ambac Financial was represented by Michael Monahan, vice chairman, and Adam Foster, executive vice president, both with CBRE Group Inc.
Ennead and Ambac's commitments to remain in Lower Manhattan demonstrate a resurgence of interest in the Downtown office space."
Immediately after the end of a freeze on creditor litigation under PROMESA, the Commonwealth faced (https://www.reuters.com/article/us-puertorico-debt-lawsuit/puerto-rico-sued-by-spate-of-creditors-in-latest-blow-to-teetering-island-idUSKBN17Y0G3) a spate of lawsuits over its debt and budget restructuring, including two suits from Ambac, which also (http://www.ambac.com/pdfs/LegalProceedings/PRIFA%20Complaint%20(05.02.2017).pdf) sued Treasury Secretary Steven Mnuchin.
The law firm Milbank, Tweed, Hadley & McCloy, on behalf of Ambac, enlisted Harbinger Strategies LLC - and its team of (http://www.harbingerstrategies.com/our-team/manny-rossman) four (http://www.harbingerstrategies.com/our-team/steve-stombres) former (http://www.harbingerstrategies.com/our-team/kyle-nevins) GOP (http://www.harbingerstrategies.com/our-team/john-oneill) staffers , including two previous chiefs of staff to Republican Whips - to lobby on "issues related to Puerto Ricos economy and debt" and the implimentation of PROMESA during the last quarter, federal lobbying (https://soprweb.senate.gov/index.cfm?event=getFilingDetails&filingID=30E03E46-B973-42EB-B5DC-DB02C9E6502B&filingTypeID=69) files show.
The financial impact of the settlement is described in Ambac's fourth-quarter 2015 earnings release and in a 10K filed with the Securities and Exchange Commission (SEC).
Commenting on the settlement, Nader Tavakoli, Ambac's president and chief executive officer, said, "We are delighted to bring our RMBS-related litigation against JPMorgan to a successful conclusion.
The Ambac Bond Insurance Case plaintiffs--a group of California
In this paper, I will use the Ambac Bond Insurance Case filings as
Needless to say, Ambac
(like other financial guaranty insurers) miscalculated the risk posed by many of the financial instruments it insured.
At least one insurer, Ambac
, argued publicly back on July 8 that the failure of both the city and state to protect General Obligation bonds would be harmful to both the city and bondholders.
Assurance Corp has sued Bank of America Corp (NYSE: BAC) over mortgage-backed securities.
Changes in the Price of Insuring Ambac
's Senior Indebtedness