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Judge Puts AIG/N.Y. Fed Case on Hold, BofA Still On

A federal judge has put American International Group Inc's dispute with a financial crisis-era bailout vehicle on hold while another court addresses the insurer's separate $10 billion lawsuit against Bank of America Corp over defective mortgages.

By Jonathan Stempel, Reuters | Updated on February 27, 2013

NEW YORK (Reuters) – A federal judge has put American International Group Inc’s dispute with a financial crisis-era bailout vehicle on hold while another court addresses the insurer’s separate $10 billion lawsuit against Bank of America Corp over defective mortgages.

In rejecting AIG’s effort to litigate quickly against the Maiden Lane II vehicle created by the Federal Reserve Bank of New York, U.S. District Judge Lewis Kaplan said that “on the face of it” some of the New York Fed’s and Maiden Lane’s actions “perhaps are unattractive and, indeed, wrongful.”

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