Greenberg’s $25B Suit Over AIG Bailout Wins Court OK

Law360, New York (July 3, 2012, 7:14 PM EDT) -- A federal judge on Monday gave the go-ahead to a $25 billion suit that an insurance company run by former American International Group Inc. CEO Maurice “Hank” Greenberg brought against the federal government over the AIG bailout.

Judge Thomas C. Wheeler of the Court of Federal Claims denied the federal government's motion to dismiss Starr International Co.'s suit. The insurer, which Greenberg heads, claims that the federal government illegally gave itself AIG shares after it took control of an 80 percent stake of then-tottering AIG during...
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