AIG - Securities Lending - Legal Cases

  • Transatlantic vs AIG
  • 2009 - LC - AIG Glob. Sec. Lending Corp. v. Banc of Am. Sec. LLC  
    • United States District Court Southern District of New York
    • Civil Action No. - 01 Civ. 11448 (JGK)
    • Memorandum of Defendant Banc of America Securities LLC In Support of Its Motion for Judgment as a Matter of Law or for a New Trial - 38p
    • 646 F, Supp.2d 385, 407 (S.D.N.Y. 2009), aff’d, 386 F. App’x 5 (2d Cir. 2010)
  • (f) Willumstad: “AIG did not face significant cash demands from securities lending counterparties until on or around Monday, September 15 or possibly Friday, September 12”. (Willumstad: Trial Tr. 6489:25 – 6490:4).

Case 1:11-cv-00779-TCW Document 428 Filed 02/19/15 Page 81 of 573 - 573p

  • AIG’s insurance operations held investments in RMBS with an estimated fair value of $94 billion at June 30, 2007, or approximately 11 percent of AIG’s total invested assets.
    • In addition, AIGFP held investments totaling $3.6 billion in CDOs which include some level of subprime exposure.

LC - Oppenheimer v AIG - lexmarc.us/Documents/OppenheimerAIGComplaint.pdf-222p