AIG Files to Block ex-CEO Greenberg’s Access to Internal Documents

February 22, 2008

American International Group Inc. Friday filed a motion for a stay of a court order requiring it to turn over some internal documents to ex-Chief Executive Officer Maurice “Hank” Greenberg.

An appeals court ruled earlier this week that Greenberg should have access to the files, reversing a 2006 lower court decision that denied him and former Chief Financial Officer Howard Smith access to the documents. AIG has said it plans to appeal the decision.

In a memorandum of law to support the motion, AIG said it was “confident its position will be vindicated on appeal, and absent a stay, (it) would have to disclose its privileged documents to defendants before (its) appeal can be heard.”

“Any appeal by AIG would be frivolous and filed solely for the purpose of a delay,” said Greenberg’s lawyer, Nicholas Gravante.

AIG’s motion was filed in New York Supreme Court.

(Reporting by Lilla Zuill; Editing by Lisa Von Ahn and Gerald E. McCormick)

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