AIG Loses Bid To Delay Approval Of $8.5B BofA Settlement

Law360, New York (February 19, 2014, 7:42 PM EST) -- A New York state judge on Wednesday refused American International Group Inc.'s bid to delay approval of Bank of America Corp.'s $8.5 billion settlement with institutional mortgage-backed securities investors, but AIG said it plans to continue fighting.

New York Supreme Court Judge Saliann Scarpulla denied AIG's Feb. 4 motion to stay entry of final judgment in the settlement, which is aimed at resolving claims brought by holders of subprime mortgage-backed Countrywide Financial Corp. securities that went bust during the financial crisis. The deal, which was supported...
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