Greenberg Feels Good About AIG Bailout Trial Closing

By | May 7, 2015

Maurice “Hank” Greenberg, the former chief executive officer of American International Group Inc., said he’s happy with closing arguments in a trial his company has led against the U.S. regarding AIG’s 2008 bailout.

“I’m very pleased with the way that went,” Greenberg, 90, said in an interview on Bloomberg Television with Betty Liu. “I can’t say anything more, the judge is making his decision.”

Greenberg’s Starr International Co., AIG’s largest shareholder before the bailout, contends terms of the initial $85 billion rescue loan illegally gave the government a majority stake in the insurer. Starr seeks compensation for about 275,000 AIG investors who claim they were harmed by the dilution of their shares.

Closing arguments for the trial, which lasted eight weeks last year and ended just before Thanksgiving, were on April 22. AIG wasn’t a party in the case.

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