SIGTARP releases report on AIG rescue and payments to AIG counterparties

On Monday, the Office of the Special Inspector General for the Troubled Asset Relief Program (SIGTARP) released a report entitled “Factors Affecting Efforts to Limit Payments to AIG Counterparties.” The report examines certain transactions related to the rescue of AIG, including the creation of Maiden Lane III, a limited liability company formed last year to facilitate the purchase of assets from counterparties of AIG Financia

Filed under:
USA, Insolvency & Restructuring, Insurance, Alston & Bird LLP, Market liquidity, Limited liability company, Swap (finance), Market value, Collateralized debt obligation, Credit default swap, Troubled Asset Relief Program, US Congress, American International Group, Federal Reserve System, Bank of New York Mellon, Inspector general
Authors:
Ian Grant
Location:
USA
Firm:
Alston & Bird LLP
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