Brookfield to pay $905M to AIG to settle dispute


Brookfield Asset Management (BAM) has agreed to pay AIG (AIG) $905M to end a legal conflict connected to interest-rate swaps.

The Canadian asset manager had taken a provision of $1.4B on the contracts as of June 30.

Brookfield sued AIG in 2009, arguing that the latter's collapse in 2008 had triggered default provisions in two 25-year interest-rate swaps from 1990. AIG responded that Brookfield was trying to refrain from fulfilling its responsibilities.

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Comments (1)
  • BAHAMAS1
    , contributor
    Comments (4997) | Send Message
     
    Less legal fees, this goes right to AIG's bottom line ,
    Excellent !
    25 Aug 2013, 12:27 PM Reply Like
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