The three law firms that played leading roles crafting the first of many AIG bailout provisions were on hand again, two years later, when the government and the limping insurer finally worked out a complex plan to sever ties, according to lawyers who worked on the deal.
The government contributed $182.3 billion to preserve AIG, of which about $120 billion still is outstanding. The parties’ exit strategy calls for a sequence of steps that will begin with AIG repaying the Federal Reserve Bank of New York and end at an unknown point when the Treasury Department sells off its last shares in the company, according to rundowns in The New York Times and The Wall Street Journal.
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