Feds' Defenses Trimmed In Starr's $55.5B AIG Bailout Suit

Law360, New York (November 8, 2013, 7:23 PM EST) -- A Court of Federal Claims judge on Friday knocked out one affirmative defense asserted by the government in Starr International Co. Inc.’s $55.5 billion suit over the American International Group Inc. bailout, but allowed the remaining six to stand.

The suit by Starr International — the company led by former AIG CEO Maurice “Hank” Greenberg — claims the Federal Reserve Bank of New York had offered bailout terms that undervalued AIG and amounted to a “taking without just compensation under the Fifth Amendment,” according to court...
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