Insurance – reinsurance

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Wisconsin Court of Appeals

Civil

Insurance – reinsurance – rehabilitation — segregation

Assured Guaranty Corp. and its affiliate Assured Guaranty Re Ltd. (collectively, Assured; individually AGC and AG Re) appeal an order enforcing against them an injunction that was issued during the course of a Chapter 645 proceeding to rehabilitate a segregated account of the Ambac Assurance Corporation (Ambac). The circuit court ruled that the injunction barred Assured from pursuing arbitration in New York on two reinsurance contracts and obligated them to make certain reinsurance payments to Ambac. We affirm for the reasons discussed below. This opinion will not be published.

2011AP1486 In the Matter of Rehabilitation of: Segregated Account of Ambac Assurance Corp.

Dist IV, Dane County, Johnson, J., Per Curiam

Attorneys: For Appellant: Schott, Donald K., Madison; Benkers, Josephine K., Madison; Splitek, Matthew, Madison; Klugman, Steven, New York; For Respondent: Van Sicklen, Michael B., Madison; Walsh, David G., Madison; Lynch, Matthew, Madison