Bankruptcy Court Approves Ambac Financial Group's Chapter 11 Reorganization Plan

NEW YORK - The federal bankruptcy judge in the U.S. Bankruptcy Court for the Southern District of New York presiding over the Chapter 11 proceeding of Ambac Financial Group Inc. on March 14 ordered that the reorganization plan satisfied the Bankruptcy Code, clearing the way for Ambac to emerge from bankruptcy (In Re: Ambac Financial Group Inc., No. 10-15973, Chapter 11, S.D. N.Y. Bkcy.).
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