We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

AIG Unit Sues Tyco Over Bond Buyback Offer

Law360 (May 11, 2007, 12:00 AM EDT) -- A unit of American International Group Inc. filed suit against a Tyco International Ltd. subsidiary on Wednesday over an allegedly unfair offer Tyco has made to buy back $5.6 billion in Tyco bonds in preparation for its liquidation.

In a complaint filed in the U.S. District Court for the Southern District of New York, AIG Global Investment Corp., which holds Tyco notes issued in 1998 and 2003, claims Tyco’s tender offer to buy the notes contains false and misleading disclosures. The investment adviser seeks declaratory judgment...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.