
06-15-2015, 08:19 PM
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http://www.ft.com/cms/s/0/28900784-137b-11e5-aa7f-00144feabdc0.html#axzz3dAzFkQnf
Court rules in favor of Greenberg, but awards no damages.
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But he awarded no damages. The judge wrote that in the end, the “Achilles heel” of Mr Greenberg’s case was that, “if not for the government’s intervention, AIG would have filed for bankruptcy. In a bankruptcy proceeding, AIG’s shareholders would most likely have lost 100 per cent of their stock value.”
. . .
The judge pointed to a phrase from John Studzinski, the investment banker who advised AIG’s board, that “20 per cent of something [is] better than 100 per cent of nothing”.
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