AIG Unveils Plan To Pay Back Rest Of $182B Bailout

Law360, New York (January 14, 2011, 4:29 PM EST) -- American International Group Inc. and the U.S. Department of the Treasury announced a plan Friday that will see the insurer pay back the remainder of its $182 billion taxpayer bailout and end government involvement with the company in approximately two years.

Under the plan, AIG will repay the remaining $21 billion balance on a credit facility extended by the Federal Reserve Bank of New York and convert other remaining government assistance into common stock.

Treasury will end up holding 92 percent of common stock in the...
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