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AIG Holding BofA $8.5B Settlement 'Hostage,' Investors Say

American International Group is holding "hostage" an $8.5 billion deal to compensate investors who bought Bank of America Corp mortgage securities, supporters of the deal said in court filings ahead of a hearing on Wednesday.

By Karen Freifeld, Reuters | Updated on February 19, 2014

NEW YORK (Reuters) – American International Group is holding “hostage” an $8.5 billion deal to compensate investors who bought Bank of America Corp mortgage securities, supporters of the deal said in court filings ahead of a hearing on Wednesday.

The supporters urged the judge overseeing the deal to reject AIG’s efforts to delay its approval, according to documents submitted to the court late on Friday.

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