9th Circ. Remands AIG Fraud Fight Over Asset Sale

Law360, New York (February 10, 2010, 5:20 PM EST) -- A federal appellate court has largely reversed and remanded a lower court's decision to dismiss AIG Retirement Services Inc.'s lawsuit accusing Artemis Finance SNC, Credit Lyonnais SA and others of fraud in the purchase of the assets of Executive Life Insurance Co.

In a decision Tuesday, a three-judge panel of the U.S. Court of Appeals for the Ninth Circuit revived the suit filed by AIG Retirement, which was known as SunAmerica Inc. at the time of the events in dispute.

The fight centers around a sale...
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