AIG announces sale of Hong Kong Financial branch and energy and infrastructure investments

In the past two days, AIG has announced the sale of its Hong Kong Financial branch and the sale of additional energy and infrastructure investment assets.

Filed under:
USA, Corporate Finance/M&A, Insolvency & Restructuring, Alston & Bird LLP, Debt, Subsidiary, American International Group
Authors:
Ian Grant
Location:
USA
Firm:
Alston & Bird LLP
AIG posts $4.35 billion first quarter loss

On Thursday, AIG announced a $4.35 billion loss for the first quarter of 2009, as compared to a net loss of $7.81 billion in the first quarter of 2008 and a net loss of $61.7 billion in the fourth quarter of 2008.

Filed under:
USA, Insolvency & Restructuring, Insurance, Alston & Bird LLP, Libor, Market liquidity, Retirement, Life insurance, Line of credit, Preferred stock, US Securities and Exchange Commission, US Department of the Treasury, American International Group, Bank of New York Mellon
Authors:
Ian Grant
Location:
USA
Firm:
Alston & Bird LLP
GM seeks to convert Treasury debt to equity; UAW encourages rejection of GM restructuring plan

Yesterday, in a filing with the Securities and Exchange Commission, General Motors announced that it is currently attempting to restructure debt held by the U.S. Treasury Department. Under a current proposal, GM would convert at least 50% of its debt held by the U.S. Treasury Department into common shares. As a result of the conversion Treasury would hold greater than 50% of GM’s common shares.

Filed under:
USA, Insolvency & Restructuring, Alston & Bird LLP, Share (finance), Shareholder, Data, Debt, US Securities and Exchange Commission, European Commission, US Department of the Treasury, United Automobile Workers, General Motors
Authors:
Ian Grant
Location:
USA
Firm:
Alston & Bird LLP