Fed. Circ. Bars Bernanke Depo In $55.5B AIG Bailout Suit

Law360, New York (October 16, 2013, 4:59 PM ET) -- The Federal Circuit on Wednesday ruled that while Ben Bernanke continues to serve as Federal Reserve Board chairman, he cannot be deposed in Starr International Co. Inc.’s $55.5 billion suit over the American International Group Inc. bailout.

The suit by Starr International — the company led by former AIG CEO Maurice “Hank” Greenberg — claims the Federal Reserve Bank of New York had offered bailout terms that undervalued AIG and amounted to a “taking without just compensation under the Fifth Amendment,” according to court documents. ...
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