Law360, New York (December 02, 2011, 7:19 PM ET) -- A trustee overseeing Taylor Bean & Whitaker Mortgage Corp.'s estate sued American International Group, Inc., Mutual of Omaha Insurance Co., CitiMortgage Inc. and 15 others in Florida court Thursday seeking to recover payments made before the troubled lender filed for bankruptcy following executives' arrest for fraud.
Trustee Neil F. Luria said Taylor Bean transferred $131,696 to AIG, knowing it lacked these funds and intending to defraud creditors, constituting fraudulent transfer and unfair preference toward AIG. Luria sent a letter to AIG demanding the money's return, but...
Taylor Bean Trustee Targets AIG, Others Over Payments
To view the full article, take a free trial now.
