Attorneys for AIG and CV Starr agencies will continue their duel in a New York courtroom Wednesday over how they can conduct business while in the midst of a disputed separation process.
New York Supreme Court Justice Herman Cahn this morning postponed a hearing on temporary restraining orders filed on both American International Group and C.V. Starr agencies in connection with their dispute over their corporate divorce.
At a brief session this morning, Judge Cahn set Wednesday at 2 p.m. for the next round between the two parties, who are disputing the separation terms in the agreements joining the two entities that were once very closely intertwined.
Last week the judge imposed temporary restraining orders prohibiting Starr from interfering in current business AIG has with clients brought in originally through the Starr aegis but allowing the agency to seek new business.
At issue specifically is a new business agreement Starr entered in with National Indemnity Company, a unit of Berkshire Hathaway.
AIG sought an order from Judge Cahn to totally bar Starr from entering into that agreement. But instead, it was limited to a prohibition on Starr interfering in any way with AIG's existing business. The order allowed Starr to use NICO to write new, direct insurance or reinsurance.
AIG, in turn, was issued a restraining order prohibiting its officials from barring Starr employees access to offices they have which are located in AIG buildings.
The two sides have agreed to some form of mediation or arbitration; the exact details have yet to be worked out.
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