City Hall
1 Dr. Carlton B. Goodlett
Place
San Francisco, CA 94102-
4689
City and County of San Francisco
Legislation Details
File #:
Version:
1
170644
Name:
Settlement of Lawsuit - Ambac Assurance Corp. and
Ambac Financial Group Inc. - City to Receive
$679,202
Status:
Type:
Ordinance
Passed
File created:
In control:
6/6/2017
Clerk of the Board
On agenda:
Final action:
6/6/2017
7/21/2017
Enactment date:
7/21/2017
149-17
Enactment #:
Title:
Ordinance authorizing a settlement of the lawsuit filed by the City and County of San Francisco
against Ambac Assurance Corp. and its affiliate, Ambac Financial Group Inc. for $679,202; the lawsuit
was filed on October 8, 2008, in San Francisco Superior Court, Case No. CGC-08-480708; entitled
City and County of San Francisco v. Ambac Financial Group Inc., et al.; the lawsuit involves breach of
contract, fraud and antitrust claims against bond insurance companies; this partial settlement applies
only to claims against the two Ambac entities.
Sponsors:
Attachments:
1. Leg Ver1, 2. Comm Pkt 062117, 3. Board Pkt 062717, 4. Board Pkt 071117, 5. Leg Final
Action By
Date
Action
Result
Ver.
RECEIVED FROM DEPARTMENT
Clerk of the Board
5/19/2017
1
RECEIVED AND ASSIGNED
President
6/6/2017
1
RECOMMENDED
Government Audit and Oversight
Committee
6/21/2017
1
Pass
PASSED ON FIRST READING
Board of Supervisors
6/27/2017
1
Pass
FINALLY PASSED
Board of Supervisors
7/11/2017
1
Pass
APPROVED
Mayor
7/21/2017
1