Bank of America Corp (NYSE:BAC) noting Ambac Financial Group, Inc. (NASDAQ:AMBC)’s damages claim in excess of $2.5 billion in a recent filing could be a positive for Ambac, notes BTIG Research. Ambac’s emergence from bankruptcy As reported earlier, Ambac Financial Group, Inc. (NASDAQ:AMBC) emerged from bankruptcy with court permission in March 2012 and is seeking to recover what it sees as unfair losses from its bond insurance market during the financial crisis. It was those dealings that made the insurer go bankrupt in the first place and they now seek recompense. In 2012, Ambac Financial Group, Inc. (NASDAQ:AMBC) alleged that it…
Ambac Pursuing $2.5 Billion Claim Against Bank of America Corp
Mani
Mani is a Senior Financial Consultant. He has worked in Senior Management role in large banking, financial and information technology organizations. He has provided solutions for major banking and securities firms across the globe in the area of retail, corporate and investment banking. He holds MBA (Finance) and Professional Management Accounting Qualifications. His hobbies are tracking global financial developments and watching sports