AIG restraining order hearing postponed

Judy Greenwald
Business Insurance
March 7, 2006

NEW YORK—A hearing in New York State Supreme Court on a request by New York-based American International Group Inc. for a restraining order against a managing general agency controlled by former AIG chairman Maurice R. Greenberg has been postponed until Wednesday afternoon.

Judge Herman J. Cahn earlier had issued a temporary restraining order against New York-based MGA Starr Technical Risks Agency Inc., one of four C.V. Starr & Co. Inc. MGAs still controlled by Mr. Greenberg. Among other actions, the restraining order stopped a Starr Tech reinsurance arrangement with National Indemnity Co., a unit of Omaha, Neb.-based Berkshire Hathaway Inc.

Judge Cahn had originally scheduled a hearing for Monday on whether to extend the order. AIG has said in court papers that it wants the temporary restraining order pending a decision by an arbitration panel in the dispute, which it said could take at least several months.

1994-2006 by Crain Communications Inc.

Click here to return to our homepage