A Wisconsin appellate court Thursday affirmed the validity of Ambac Assurance Corp.’s segregated policy account, the bond insurer said in a statement.

“After giving full consideration to the objections, contentions, and arguments and after a careful examination of the record before us and of the circuit court’s findings and conclusions of law, we conclude that the circuit court properly exercised its discretion in confirming the rehabilitation plan at issue in this case, the appeals court said, upholding a previous decision by judge William Johnston.

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