Legal News

Maurice Greenberg Moving Closer to $25 Billion Victory
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

AIG, Maurice Greenberg, Business News

Summary: It is quite possible that Maurice ‘Hank’ Greenberg could win the lawsuit he filed against the government for bailing out his firm, according to Bloomberg. 

It is quite possible that Maurice ‘Hank’ Greenberg could win the lawsuit he filed against the government for bailing out his firm, according to Bloomberg and The Huffington Post.

  
What
Where


Greenberg’s firm, AIG, was bailed out by the government as part of its effort to rescue struggling mortgage companies.

Greenberg has been at trial for the past six weeks and is getting closer to victory with his lawyer, David Boies.

To read more stories about AIG, click here.

Get JD Journal in Your Mail

Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!




His lawsuit claims that the government bailed out AIG on ‘unfair’ terms. If he wins, Greenberg could leave with $25 billion.

The $25 billion is twice the value of the aid provided through TARP, which was a relief program for mortgage holders in trouble.



The $25 billion is also the same amount of money set aside for housing that has yet to be spent by TARP.

According to Bloomberg, Judge Thomas Wheeler “appears intent on writing an opinion that will guide what regulators are permitted to do in the next financial crisis.”

One of Bloomberg’s legal analysts, Elliott Stein, said that Wheeler “sees a real absence of established precedent about what the government can do. Wheeler planted seeds of doubt about the legality of what the government did, and Boies has been able to water those seeds.”

Greenberg spent almost four decades as the head of AIG prior to leaving his post in 2005.

Can Greenberg win this case? Use our poll below to share your thoughts.

Will Greenberg Win this Lawsuit?

View Results

Loading ... Loading ...

Image credit: Getty Images



 

RELEVANT JOBS

Firm Administrator

USA-FL-Coral Gables

Falk, Waas, Hernandez, Solomon, Mendlestein & Davis, P.A., an insurance defense, medical malpractice...

Apply now

Contract Family Law Attorney

USA-CA-Los Angeles

We are seeking a Contract Family Law Attorney! We are looking for someone who has a flexible schedul...

Apply now

Paralegal

USA-CA-Cotati

Animal Legal Defense Fund Paralegal (Litigation Program) Reports to: Litigation Program A...

Apply now

Litigation Attorney -- Orange County

USA-CA-Santa Ana

Boutique firm seeks motivated 4+ year attorney with exceptional research and writing skills for high...

Apply now

BCG FEATURED JOB

Locations:

Keyword:



Search Now

Insurance Associate Attorney

USA-FL-Tampa

Tampa office of a BCG Attorney Search Top Ranked Law Firm seeks insurance associate attorney prefera...

Apply Now

Insurance Associate Attorney

USA-LA-New Orleans

New Orleans office of a BCG Attorney Search Top Ranked Law Firm seeks insurance associate attorney p...

Apply Now

Insurance Associate Attorney

USA-TX-Houston

Houston office of a BCG Attorney Search Top Ranked Law Firm seeks insurance associate attorney prefe...

Apply Now

SEARCH IN ARCHIVE

To Top