| Updated:
Bitter AIG dispute set for arbitration
THE acrimonious financial dispute between insurance giant AIG and its former chief executive Maurice “Hank” Greenberg looked like it might be heading for a solution yesterday as the two sides agreed to enter into private arbitration.
The agreement, which is also with the group’s former financial officer, signals a reversal in the contentious relationship between AIG and its former executives.
Greenberg has been embroiled in legal disputes with the insurer since he was ousted in 2005 after running the company for four decades.
With the appointment of Robert Benmosche as AIG’s chief executive, relations between Greenberg and AIG have thawed. Greenberg has said he wants to settle with AIG.