A monitor displays American International Group Inc. (AIG) signage on the floor of the New York Stock Exchange (NYSE) in New York, U.S., on Friday, February 9, 2018. (Photo: Michael Nagle/Bloomberg)
A group of former traders and managers at American International Group Inc. (AIG) won a London judge's backing in their battle to obtain $100 million dating back to the financial crisis, after he said that the insurance giant couldn't put forward "abusive" arguments to block the payments.
Judge Andrew Baker ruled Tuesday that the insurer can't assert that its AIG Financial Products unit would have rather gone bankrupt than pay the bonuses to the 23 ex-employees. An earlier ruling said the unit improperly withheld the payments, and the insurer wanted to make the case for bankruptcy in a new trial deciding the damages.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
