On June 4, a Wisconsin state court approved the Wisconsin Commissioner of Insurance’s motion to begin making interim payments on claims under financial guaranty insurance policies held in the Segregated Account of Ambac Assurance Corporation.  In re Segregated Account of Ambac Assurance Corp., No. 10-CV-1576 (Wis. Cir. Ct., Dane County June 4, 2012).  In March 2010, the commissioner took control of this Segregated Account, which holds financial guaranty policies written by Assured, and ordered the suspension of all claim payments under these policies.  Approximately $3.2 billion of claims are outstanding.  Ambac will begin paying 25% of each claim that has been submitted since March 2010, and will pay 25% of each future claim, beginning in the third quarter of 2012.  The court also approved the commissioner’s request to exercise call options to purchase approximately $939 million of surplus notes previously issued by Assured.