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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: deeno who wrote (52364)	9/13/2013 10:01:48 AM
From: Spekulatius	Read Replies (1) \| Respond to of 78753

AMBC went into bankruptcy and stopped writing new business. They entire business right now is to run off the insurance subsidy, get money back from lawsuits and figure out what to do with the NOL. The insurance sub continued to pay claims through the entire time. The bankruptcy wiped out some debt, that got converted into equity and the share count was reduced from ~300M shares to 45M shares. That is pretty much it in a nutshell. The fact that they have really no ongoing business and huge NOL means that the easiest value realization would be a merger/sale to a company that can use the NOL. This company would have to be several time the size of AMBC obviously.