Skip to main content
Black Listed News
Trending Articles:
Trending Articles:

AIG Wins Ruling on Court for Its Bank of America Lawsuit

Published: April 19, 2013
Share | Print This

Source: Bloomberg News

American International Group Inc. (AIG) may succeed in returning its lawsuit against Bank of America Corp. over mortgage securities to a New York state court.

A federal appeals court in Manhattan today ruled that the Edge Act, a 1919 law that regulates international banking, doesn’t give the federal court jurisdiction over AIG’s suit. New York-based AIG sued Bank of America in state court in 2011 over losses it claimed on mortgage bond investments.

Bank of America, based in Charlotte, North Carolina, had the case moved to federal court, and U.S. District Judge Barbara Jones denied AIG’s request to return it to state court. The U.S. Circuit Court of Appeals in Manhattan today vacated Jones’s ruling and returned the case to the federal district court for further action.


Share This Article...

Emigrate While You Still Can! Learn more...

More Blacklisted News...

Free Newsletter
Blacklisted Radio
Blacklisted Nation
On Twitter
On Reddit
On Facebook
Blacklisted Radio:
Podcasts on Youtube
Podcasts on Demand
Podcasts on Spreaker
Podcasts on Stitcher
Podcasts on iTunes
Podcasts on Tunein

Our IP Address:



Calling for Contributors!

Got something to say?
We want to hear from you.

Submit your article contributions and participate in the world's largest independent online news community today!

Contact us today!

BlackListed News 2006-2017