After years of lawsuits, American International Group Inc., its former Chairman and Chief Executive Officer Maurice R. Greenberg and its former Chief Financial Officer Howard I. Smith announced last week that they have jointly agreed on terms for binding arbitration of various legal disputes.
The parties have concluded that it is "preferable to resolve as many of their disputes as possible in a private setting, and in a more expeditious and cost-effective manner," according to a statement.
The action comes on the heels of the appointment of Robert H. Benmosche just weeks ago, who came out of retirement to take over for Ed Liddy as AIG's fourth chief executive officer in just over a year.
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