Panel Upholds Rehabilitation Plan For Segregated Account Of Insolvent Insurer

Panel Upholds Rehabilitation Plan For Segregated Account Of Insolvent Insurer

MADISON, Wis. - A trial court did not err in confirming the rehabilitation plan of the segregated account of Ambac Assurance Corp., a Wisconsin appeals panel held Oct. 24, also affirming the proposed hearing schedule, the establishment of a segregated account, the issuance of injunctive relief and the refusal to enjoin a settlement agreement between Ambac and a group of financial institutions (In the matter of the rehabilitation of: Segregated Account of Ambac Assurance Corp.; Ted Nickel and Office of the Commissioner of Insurance v. Wells Fargo Bank/trustee of bondholders, et al., Nos. 2010AP1291, 2010AP2022, 2010AP2835 & 2011AP561, Wis. App., Dist. 4; 2013 Wisc. App. LEXIS 895).

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