AIG Wins Dismissal Of $178M Insurance Collateral Suit

Law360, New York (June 13, 2011, 2:08 PM EDT) -- An Arizona federal judge on Friday dismissed a suit that sought $178 million from American International Group Inc. over an alleged breach of an insurance collateral agreement with a waste disposal company, ruling that AIG was not a party to the contract.

Republic Services Inc., the nation's second-largest nonhazardous waste management company, said that AIG required Republic to post excessively high levels of collateral, and had sought the return of more than $156 million posted as collateral for insurance liability in 2009 and 2010, as well...
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