An appellate court in New York has cleared the way for a trial on allegations that Maurice “Hank” Greenberg and Howard Smith, respectively the former CEO and CFO of American International Group, committed fraud in connection with two reinsurance transactions.
The litigation has been underway since 2005, and was prompted by an investigation by formerNew Yorkattorney general Elliot Spitzer.
The decision partially reverses a decision by state Supreme Court Justice Charles Ramos.
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