AIG Sues NY Fed Over Right To Billions In RMBS Claims

Law360, Los Angeles (January 11, 2013, 10:49 PM EST) -- American International Group Inc. and a group of affiliated insurance companies on Friday petitioned a New York court to clarify an asset purchase agreement with a Federal Reserve vehicle over the ownership of billions of dollars in claims related to residential mortgage-backed securities.

In Friday’s complaint, AIG seeks to eliminate uncertainty regarding the insurance company’s ownership of tort claims against numerous financial institutions that allegedly made material misrepresentations and omissions in securitizing and marketing RMBS to AIG between 2005 and 2007.

AIG said the tort claims...
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