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Ambac Financial Group, Inc. - Recent Material Event

Item  8.01 Other Events.

On May 15, 2012, Ambac Assurance Corporation (“Ambac Assurance”), a subsidiary of Ambac Financial Group, Inc., received a letter from the Office of the Commissioner of Insurance of the State of Wisconsin stating that it has disapproved the requests of Ambac Assurance and the Special Deputy Commissioner of the Segregated Account of Ambac Assurance (“Segregated Account”), acting on behalf of the Rehabilitator of the Segregated Account, to pay accrued interest on all outstanding Surplus Notes issued by Ambac Assurance and the Segregated Account on the scheduled interest payment date of June 7, 2012. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

 

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

 

Exhibit

No.

  

Description

Exhibit 99.1    Press Release dated May 16, 2012.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 

    Ambac Financial Group, Inc.
    (Registrant)
Dated: May 17, 2012      
    By:  

/s/ Stephen Ksenak

      Stephen Ksenak, General Counsel

EXHIBIT INDEX

 

Exhibit

No.

  

Description

Exhibit 99.1    Press Release dated May 16, 2012.