AIG Asks Court To Toss Brookfield's Swap Claims

Law360, New York (December 18, 2009, 1:09 PM EST) -- American International Group Inc. is asking a federal court to throw out a case brought by a real estate investment firm seeking to avoid paying the $1.2 billion it owes under a swap agreement with the fallen insurance giant.

On Thursday, AIG asked a U.S. District Court for the Southern District of New York to dismiss a case brought by Brookfield Asset Management Inc. alleging the insurer's government bailout amounts to a default, freeing Brookfield of its obligations to the company.

In a memorandum in support...
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