Ex-AIG CEO's $25bn bailout lawsuit to go ahead

Gavel

A federal judge has rejected the United States' bid to dismiss a more than $25bn lawsuit filed by Maurice 'Hank' Greenberg, the former chief executive of American International Group Inc, over the insurer's government bailout, clearing the way for a September 29 trial.

Reuters reports that Judge Thomas Wheeler of the U.S. Court of Federal Claims said the case brought by Greenberg's Starr International Co on behalf of itself and other AIG shareholders involves 'complex financial and economic issues' that deserve analysis and testimony from qualified expert witnesses.

'The complexity of the submissions and the factual disagreements strongly point to the need for a trial,' Wheeler wrote in an order dated Monday.

A trial is expected to last six weeks.

Hit the link below to access the complete Reuters article:

U.S. loses bid to dismiss ex-AIG CEO's $25 billion lawsuit over bailout

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