Bloomberg News

Ambac Asks Bankruptcy Court to Estimate Tax Claim by IRS

October 13, 2011

Oct. 13 (Bloomberg) -- Ambac Financial Group Inc. asked a bankruptcy court to hold a hearing where it can estimate the value of an $807.2 million tax claim, saying it will run out of cash by 2012 if its dispute with the IRS isn’t resolved.

To contact the reporter on this story: Tiffany Kary in New York at tkary@bloomberg.net

To contact the editor responsible for this story: Fred Strasser at fstrasser@bloomberg.net


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