AIG resolves all legal disputes

AIG resolves all legal disputes with Greenberg

AIG settles legal disputes with former chairman Hank Greenberg

NEW YORK (AP) — American International Group Inc. has agreed to settle all legal disputes with its former chairman Maurice “Hank” Greenberg, the company said late Wednesday.

The insurance company, which was bailed out by the government and is now owned by U.S. taxpayers, also resolved its complaints against former Chief Financial Officer Howard I. Smith. AIG said it will pay up to $150 million in past legal fees and expenses for both Greenberg and Smith. The agreement calls for the reimbursements to be reviewed by a third party.

Under the terms of the agreement, AIG will also return a Persian rug from the company’s headquarters to Greenberg, as well as photographs of Greenberg with Chinese leaders in AIG’s Shanghai building. Greenberg will also have access to AIG’s archives to write his memoirs.

AIG had argued that a Greenberg-controlled investment firm owed it $4.3 billion to cover stock taken from an executive retirement fund. AIG claimed the fund was held in an oral trust for use by company employees. Greenberg argued he could sell the shares because they were controlled by his firm, Starr International.

AIG had also claimed that Greenberg and Smith owe part of the $1.6 billion the insurer paid to settle a range of issues with regulators including the Securities and Exchange Commission, Justice Department and New York Attorney General.

Greenberg was ousted from New York-based AIG amid an accounting scandal in 2005. The Securities and Exchange Commission charged both Greenberg and Smith with misstating the company’s earnings.

AIG had agreed earlier this year to settle its disputes with Greenberg and Smith through arbitration. Around the same time in August, a judge had ruled that Starr International did not improperly seize the AIG stock from the retirement plan.

Mark Herr, an AIG spokesman, said the legal costs AIG reimburses Greenberg and Smith may be covered at least partially by insurance.

Posted in Insurance and tagged .


  1. Pingback: Christmas Bracelet

  2. Pingback: Sugar daddy

  3. Pingback: more info

  4. Pingback: news

  5. Pingback:

  6. Pingback:

  7. Pingback:

  8. Pingback:

  9. Pingback:

  10. Pingback:

  11. Pingback: canadian services

  12. Pingback:

  13. Pingback: 메리트 카지노

  14. Pingback:

  15. Pingback: best natural skin care

  16. Pingback: page

  17. Pingback:

  18. Pingback: 메리트카지노 사이트

  19. Pingback: Insulation

  20. Pingback: eu drivers license in uk

  21. Pingback: phim sex online

  22. Pingback: sports sunglasses

  23. Pingback: Loozap Immobilier Reunion

  24. Pingback: silencil scam

  25. Pingback: brokerreview scam

  26. Pingback: register online betting malaysia

  27. Pingback: sàn giao dịch forex

  28. Pingback: online transcription service

  29. Pingback: fixed price transfers

  30. Pingback: health supplements

  31. Pingback: sisteme de copiat

  32. Pingback: top sàn forex uy tín

  33. Pingback: action hollywood movie

  34. Pingback:

  35. Pingback: Appliances

  36. Pingback: film izle

  37. Pingback: hd film izle

  38. Pingback: oragnic skincare products

  39. Pingback: burnaby cash for cars (604) 398-5218

  40. Pingback: casino

  41. Pingback: how to win jackpot mega888

  42. Pingback: Aaron Lal

  43. Pingback: my mega888 apk hack

  44. Pingback: Adam Robinson Bendigo

  45. Pingback: malaysia mega888 game

  46. Pingback: ラブドール 通販

  47. Pingback: read more

  48. Pingback: 34cr4rxq3crq34rq3r4

  49. Pingback: download id test game mega888

  50. Pingback: corporate secretarial services singapore

  51. Pingback: Buy Weed Online

Leave a Reply

Your email address will not be published. Required fields are marked *

Human Verification: In order to verify that you are a human and not a spam bot, please enter the answer into the following box below based on the instructions contained in the graphic.