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AMBAC ASSURANCE CORPORATION v. ADELANTO PUBLIC UTILITY AUTHORITY

No. 09 Civ. 5087 (JFK).

AMBAC ASSURANCE CORPORATION, Plaintiff, v. ADELANTO PUBLIC UTILITY AUTHORITY, Defendant.

United States District Court, S.D. New York.

May 7, 2012.

Attorney(s) appearing for the Case

David W. Dykhouse , Christos G. Yatrakis , Alexander Michaels , Patterson Belknap Webb & Tyler LLP, for Plaintiff Ambac Assurance Corporation.

William M. Marticorena , A. Patrick Muñoz , Todd O. Litfin , Rutan & Tucker, LLP, Michael S. O'Reilly , E. Evans Wohlforth, Jr. , Gibbons, P.C.,, for Defendant Adelanto Public Utility Authority.

OPINION & ORDER

JOHN F. KEENAN, District Judge.

This action arises from the early termination of an interest rate swap agreement between Piper Jaffray & Company ("Piper Jaffray") and Defendant Adelanto Public Utility Authority, which is located in Adelanto, California (the "Authority" or "Defendant"). Plaintiff Ambac Assurance Corporation ("Ambac" or "Plaintiff"), a surety to the agreement, brings claims for reimbursement, breach of contract, and...

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