Maurice Greenberg’s $25 billion lawsuit against the U.S. government over the bailout of American International Group Inc. moved a step closer to trial this week, as a federal judge denied the government’s motion for summary judgment. That trial, set to begin Sept. 29, would feature testimony from former top government officials who led the response to the 2008 financial crisis, as well as some of Wall Street’s most prominent banking lawyers.
In a three-page ruling Monday, U.S. Court of Federal Claims Judge Thomas Wheeler yet again refused to knock out the suit brought by lawyers at Boies, Schiller & Flexner and Skadden, Arps, Slate, Meagher & Flom on behalf of Greenberg’s Starr International Co. Greenberg, a former AIG chairman, claims that the government’s acquisition of an 80 percent stake in AIG during the financial crisis amounted to an illegal taking.
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