- ambac vermutet in 2012 $900.2 million und in 2013, $1,619.6 million RMBS recovery. seite 77. Our ability to recover the RMBS subrogation recoveries is subject to significant uncertainty, including risks inherent in litigation, collectability of such
amounts from counterparties (and/or their respective parents and affiliates), timing of receipt of any such recoveries, regulatory intervention which could
impede our ability to take actions required to realize such recoveries and uncertainty inherent in the assumptions used in estimating such recoveries. Our
current estimate considers that we will receive subrogation recoveries of $900.2 million and $1,619.6 million in 2012 and 2013, respectively. The amount of
these subrogation recoveries is significant and if we're unable to recover any amounts our future available liquidity to pay claims would be reduced. -------------------------------------------------- über das Reorg. Plan und die möglichen Szenarien; seite 122 A plan of reorganization will be deemed accepted by holders of claims against and equity interests in Ambac if (1) at least one-half in number and twothirds
in dollar amount of claims actually voting in each impaired class of claims have voted to accept the plan, and (2) at least two-thirds in amount of equity
interests actually voting in each impaired class of equity interests has voted to accept the plan. Under certain circumstances set forth in Section 1129(b) of the
Bankruptcy Code, however, the Bankruptcy Court may confirm a plan even if such plan has not been accepted by all impaired classes of claims and equity
interests. A class of claims or equity interests that does not receive or retain any property under the plan on account of such claims or interests is deemed to
have voted to reject the plan. The precise requirements and evidentiary showing for confirming a plan, notwithstanding its rejection by one or more impaired
classes of claims or equity interests, depends upon a number of factors, including, without limitation, the status and seniority of the claims or equity interests
in the rejecting class (i.e. secured claims or unsecured claims, subordinate or senior claims, preferred or common stock). Generally, with respect to common
stock interests, a plan may be "crammed down" even if the stockholders receive no recovery if the proponent of the plan demonstrates that (1) no class junior
to the common stock is receiving or retaining property under the plan and (2) no class of claims or interests senior to the common stock is being paid more
than in full. A significant consideration for any restructuring or reorganization is the impact, if any, on Ambac's estimated $7,002,069 net operating loss tax carry
forward. Ambac considers the NOLs to be a valuable asset. However, Ambac's ability to use the NOLs could be substantially limited if there were an
"ownership change" as defined under Section 382 of the Internal Revenue Code of 1986, as amended. In general, an ownership change would occur if
shareholders owning 5% or more of Ambac's stock increased their percentage ownership (by value) in Ambac to 50% or more, as measured over a rolling
three year period beginning with the last ownership change. These provisions can be triggered by new issuances of stock, merger and acquisition activity or
normal market trading. On February 2, 2010, Ambac entered into a Tax Benefit Preservation Plan to reduce the risk of an ownership change resulting from the
trading of Ambac's stock. warum wird der Kurs so runter gedrückt oder das Volumen so niedrig ist, ,weil der Käufer nicht so einfach mehr als 13,500,000 Aktien ein block kaufen oder verkaufen zu dürfen, ohne die Genehmigung vom insolvenz Gericht zu erhalten. In connection with the Bankruptcy Filing, the Bankruptcy Court issued an interim order (the "Interim Order") restricting certain transfers of equity
interests in and claims against Ambac. The purpose of the Interim Order is to preserve Ambac's NOLs. Under section 382 of the Internal Revenue Code of
1986, as amended (the "Tax Code"), transfers by persons or entities holding 5 percent or more of Ambac's outstanding equity interests could impair or
permanently eliminate Ambac's NOLs. Moreover, transfers of claims against Ambac by persons or entities who may receive 5 percent or more of the
reorganized Company's stock pursuant to a bankruptcy plan of reorganization may impair or permanently eliminate Ambac's NOLs. Accordingly, the Interim
Order implements notice and hearing procedures for transfers by a person or entity that beneficially owns, or would beneficially own, more than 13,500,000
shares of Ambac's stock. Transfers of stock in violation of this Interim Order will be void ab initio. In addition, the Interim Order requires persons or entities
that beneficially own claims against Ambac totaling more than an amount which could permit such claimholder to acquire 4.5 percent or more of the
reorganized debtor agree to "sell down" a portion of its claims against Ambac prior to a bankruptcy reorganization, such that the claimholder would receive
less than 4.5 percent of the reorganized Bitte jede soll selbst übersetzen z.B bei google. |
Thread abonnieren
