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Article: AIG, Starr shares fight plays out in courtroom.(American International Group Inc.)(Starr International Company Inc.)
- Article from:
- Business Insurance
- Article date:
- June 29, 2009
- Author:
CopyrightCOPYRIGHT 2009 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: COLLEEN McCARTHY
Former American International Group Inc. chief Maurice R. Greenberg was grilled on the witness stand for seven days over the past two weeks in a dispute over the ownership of a large block of AIG shares controlled by Mr. Greenberg's Starr International Co. Inc.
The outcome of the case, which was brought by AIG and is being heard in U.S. district court in New York, hinges on AIG's ability to prove that the two firms, which were once tied closely, had a trust agreement in place, despite the absence of a legal document, experts say.
The block of shares at issue in the case was used to fund a well-known deferred ...