Ambac Financial Group Inc (AMBC)

[sawtrader]

Several opinions on this, but the IRS did not press charges, which indcates that it may not have been deliberate cooking of losses.
If the company sees that they are in the clear and no further pressure from the IRS/DOJ, and if they see that they can come out of BK with commons having some value, then they will make an announcement. If not, they will proceed with BK and it depends on the Judge and the court proceedings. Since the NOL is being used the commons held by the shareholders prior to BK can buy shares per the shareholder rights that has been set forth.