All posts tagged "ambac"
Judge to Consolidate Bond Insurer Lawsuits Against Puerto Rico
SAN JUAN – Federal Judge Gustavo Gelpí has consolidated several lawsuits filed over Puerto Rico’s debt to avoid inconsistent rulings and save time and money. “Both cases assert most of the same claims,” including the same defendants,...
- Posted January 22, 2016
Insurer FGIC Sues Puerto Rico Government
SAN JUAN – Financial Guaranty Insurance Co. (FGIC) has sued the government in federal court, challenging the constitutionality of the recently issued executive order by Gov. Alejandro García Padilla to enable the so-called “clawback” mechanism because they...
- Posted January 21, 2016
Puerto Rico Gov’t Sued by 2 Insurers Over ‘Illegal’ Clawbacks
SAN JUAN — Two Puerto Rico bond insurers, Ambac Assurance Corp. and Assured Guaranty, announced Thursday, Jan. 7, they had filed suit against the commonwealth for redirecting pledged revenues, known as “clawbacks,” to pay constitutionally guaranteed debt...
- Posted January 8, 2016