All posts tagged "ambac"
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