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Out of context: Reply #5820

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  • tommyo0

    hhaha seriously Franz Kafka couldn't even write the shit this well at this point ...

    AIG Sues U.S. Government to Recover $306 Million in 1997 Taxes

    2009-02-27 21:22:57.859 GMT
    By David Glovin

    Feb. 27 (Bloomberg) — American International Group Inc., the insurer in talks to restructure its federally funded $150 billion bailout, sued the U.S. government to recover $306 million in taxes.

    In a 52-page complaint filed today in Manhattan federal court, AIG said the U.S. government “erroneously and illegally” assessed taxes, penalties and interest on the company for several complex transactions in 1997.

    The suit comes as the U.S. considers restructuring a bailout to include a government backstop protecting AIG against further losses on credit-default swaps and help it stave off bankruptcy, a person familiar with the matter said yesterday. The company is preparing to disclose a record fourth-quarter loss of about $60 billion, the person said.

    The case is AIG v. U.S., 09-cv-1871, U.S. District Court, Southern District of New York (Manhattan).

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