STARR ASKS FOR CLEARANCE TO PURSUE $25BN LAWSUIT AGAINST US GOVT

Starr International the insurance group headed by former AIG boss Maurice "Hank" Greenberg, asked the US Court of Federal Claims last week for clearance to pursue its $25bn lawsuit against the US government on allegations that the bailout of AIG, starting in September 2008, marked an illegal seizure of property by the government. Earlier in March, the US Justice Department urged the court to dismiss the case owing to Starr's lack of authority to file such a suit. Starr attorney David Boies said that there "is no basis for dismissing this case at this preliminary stage".