An All-Star Joins a Long-Shot AIG Suit

摘要

A federal lawsuit by Maurice R. "Hank" Greenberg-the former chief executive officer of American International Group-that seeks $25 billion in damages from the U.S. government for the 2008 federal takeover of the insurer relies on a novel approach. The suit, filed with the U.S. Court of Federal Claims in Washington on Nov. 21, argues that the U.S. Treasury illegally took property from AIG shareholders when it bailed out the company. Legal scholars say this is a rare application of "takings" law, which usually involves land, to the world of finance.