Thomson ReutersJP Morgan Chase & Co sign outside headquarters in New York
The agreement settles claims related to residential mortgage-backed securities (RMBS) transactions insured by Ambac.
The settlement will have a positive impact on Ambac’s fourth-quarter operating results and its claims paying resources, Chief Executive Nader Tavakoli said in a statement.
(Reporting By Sudarshan Varadhan in Bengaluru; Editing by Saumyadeb Chakrabarty)
Read the original article on Reuters. Copyright 2016. Follow Reuters on Twitter.
More from Reuters:
- Pakistan province closes all schools citing cold, not security
- Top VW committee to meet Feb. 3 to discuss crisis: sources
- Denmark to vote on tough migrant law as Nordic refugee welcome wanes
- Nigerian minister tells MTN to drop lawsuit over fine
- French protests and strikes disrupt airports, roads, schools
Leave a Reply
Leave a Reply
This site uses Akismet to reduce spam. Learn how your comment data is processed.
