Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - AMBAC FINANCIAL GROUP INC | d318018d8k.htm |
| EX-2.1 - FIFTH AMENDED PLAN OF REORGANIZATION OF AMBAC FINANCIAL GROUP, INC. - AMBAC FINANCIAL GROUP INC | d318018dex21.htm |
Exhibit 99.1
| In re | Ambac Financial Group, Inc. |
Case No. | 10-15973 (SCC) | |||||
| Debtor | Reporting Period: | Nov 1-30, 2011 |
BALANCE SHEET
The Balance Sheet is to be completed on an accrual basis only. Pre-petition liabilities must be classified separately from post-petition obligations.
| ASSETS |
BOOK VALUE AT END OF CURRENT REPORTING MONTH |
BOOK VALUE AT END OF PRIOR REPORTING MONTH |
BOOK VALUE ON PETITION DATE OR SCHEDULED |
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| CURRENT ASSETS |
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| Unrestricted Cash and Equivalents |
$ | 29,635,692 | $ | 33,056,692 | $ | 51,664,858 | ||||||
| Restricted Cash and Cash Equivalents (see continuation sheet) |
2,500,000 | 2,500,000 | — | |||||||||
| Accounts Receivable (Net) |
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| Notes Receivable |
862,112 | 862,112 | 646,584 | |||||||||
| Inventories |
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| Prepaid Expenses |
582,283 | 655,068 | — | |||||||||
| Professional Retainers |
3,624,945 | 3,784,710 | — | |||||||||
| Other Current Assets (attach schedule) |
10,061,639 | 10,043,070 | 22,595,996 | |||||||||
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| TOTAL CURRENT ASSETS |
47,266,671 | 50,901,652 | 74,907,438 | |||||||||
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| PROPERTY & EQUIPMENT |
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| Real Property and Improvements |
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| Machinery and Equipment |
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| Furniture, Fixtures and Office Equipment |
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| Leasehold Improvements |
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| Vehicles |
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| Less: Accumulated Depreciation |
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| TOTAL PROPERTY & EQUIPMENT |
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| OTHER ASSETS |
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| Amounts due from Insiders* |
— | — | 2,031,707 | |||||||||
| Other Assets (attach schedule) |
(1,103,788,340 | ) | (1,073,285,607 | ) | (189,319,094 | ) | ||||||
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| TOTAL OTHER ASSETS |
(1,103,788,340 | ) | (1,073,285,607 | ) | (187,287,387 | ) | ||||||
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| TOTAL ASSETS |
$ | (1,056,521,669 | ) | $ | (1,022,383,955 | ) | $ | (112,379,949 | ) | |||
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| LIABILITIES AND OWNER EQUITY |
BOOK VALUE AT END OF CURRENT REPORTING MONTH |
BOOK VALUE AT END OF PRIOR REPORTING MONTH |
BOOK VALUE ON PETITION DATE |
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| LIABILITIES NOT SUBJECT TO COMPROMISE (Postpetition) |
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| Accounts Payable |
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| Taxes Payable (refer to FORM MOR-4) |
$ | 1,900,000 | $ | 1,900,000 | $ | 45,950 | ||||||
| Wages Payable |
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| Notes Payable |
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| Rent / Leases - Building/Equipment |
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| Secured Debt / Adequate Protection Payments |
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| Professional Fees |
14,914,158 | 16,427,112 | 4,000,000 | |||||||||
| Amounts Due to Insiders* |
485,004 | 485,004 | — | |||||||||
| Other Post-petition Liabilities (attach schedule) |
— | — | — | |||||||||
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| TOTAL POST-PETITION LIABILITIES |
17,299,162 | 18,812,116 | 4,045,950 | |||||||||
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| LIABILITIES SUBJECT TO COMPROMISE (Pre-Petition) |
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| Secured Debt |
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| Priority Debt |
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| Unsecured Debt |
1,707,496,913 | 1,707,496,913 | 1,695,259,764 | |||||||||
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| TOTAL PRE-PETITION LIABILITIES |
1,707,496,913 | 1,707,496,913 | 1,695,259,764 | |||||||||
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| TOTAL LIABILITIES |
1,724,796,075 | 1,726,309,029 | 1,699,305,714 | |||||||||
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| OWNERS’ EQUITY |
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| Capital Stock |
3,080,168 | 3,080,168 | 3,080,168 | |||||||||
| Additional Paid-In Capital |
2,172,026,548 | 2,172,026,548 | 2,186,743,295 | |||||||||
| Partners’ Capital Account |
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| Owner’s Equity Account |
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| Retained Earnings - Pre-Petition |
(3,896,443,042 | ) | (3,896,443,042 | ) | (3,889,596,442 | ) | ||||||
| Retained Earnings - Post-petition |
(1,057,214,727 | ) | (1,057,300,445 | ) | — | |||||||
| Adjustments to Owner Equity (attach schedule) |
(2,766,691 | ) | 29,943,787 | (111,912,684 | ) | |||||||
| Post-petition Contributions (attach schedule) |
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| NET OWNERS’ EQUITY |
(2,781,317,744 | ) | (2,748,692,984 | ) | (1,811,685,663 | ) | ||||||
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| TOTAL LIABILITIES AND OWNERS’ EQUITY |
$ | (1,056,521,669 | ) | $ | (1,022,383,955 | ) | $ | (112,379,949 | ) | |||
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| * | “Insider” is defined in 11 U.S.C. Section 101(31). |
FORM MOR-3
2/2008
PAGE 1 OF 2
| In re | Ambac Financial Group, Inc. |
Case No. | 10-15973 (SCC) | |||||
| Debtor | Reporting Period: | Nov 1-30, 2011 |
BALANCE SHEET - continuation section
| ASSETS |
BOOK VALUE AT END OF CURRENT REPORTING MONTH |
BOOK VALUE AT END OF PRIOR REPORTING MONTH |
BOOK VALUE ON PETITION DATE |
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| Other Current Assets |
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| Variable rate demand obligations |
10,000,000 | 10,000,000 | 22,500,000 | |||||||||
| Receivable for securities |
— | — | 43,839 | |||||||||
| Investment income due and accrued |
61,639 | 43,070 | 52,157 | |||||||||
| State franchise tax receivable |
— | — | — | |||||||||
| Other Assets |
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| Investment in subsidiaries |
(1,106,159,147 | ) | (1,075,656,414 | ) | (213,670,849 | ) | ||||||
| Other receivables |
— | — | 1,493,245 | |||||||||
| Deferred debt costs |
— | — | 19,625,591 | |||||||||
| Loan receivable |
2,370,807 | 2,370,807 | 3,232,919 | |||||||||
| LIABILITIES AND OWNER EQUITY |
BOOK VALUE AT END OF CURRENT REPORTING MONTH |
BOOK VALUE AT END OF PRIOR REPORTING MONTH |
BOOK VALUE ON PETITION DATE |
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| Other Post-petition Liabilities |
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| Adjustments to Owner’s Equity |
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| Treasury stock |
(411,419,423 | ) | (411,419,423 | ) | (449,569,100 | ) | ||||||
| Accumulated other comprehensive gain |
408,652,732 | 441,363,210 | 337,656,416 | |||||||||
| Post-Petition Contributions |
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Restricted Cash: Cash that is restricted for a specific use and not available to fund operations.
Typically, restricted cash is segregated into a separate account, such as an escrow account.
FORM MOR-3
2/2008
PAGE 2 OF 2