Ex-AIG main Greenberg should face judge he known as biased

1. exaig main greenberg have to
Former AIG main Maurice "Hank" Greenberg will have to protect himself against statements of
accounting fraud in a non-jury demo performed by a decide he tried to take away for alleged bias.
Justice Charles Ramos of New York point out courtroom on Tuesday ruled against Greenberg's
desire for a jury to listen to the civil scenario brought by the New York legal professional general.
Previously this month, a New York appeals court docket rejected Greenberg's endeavor to
eliminate Ramos from the long-managing case. Greenberg claimed Ramos was biased against
him and could not preside more than a reasonable trial. Ramos dominated from the bench in the
latest lawful wrangling in the 2005 scenario that accuses Greenberg and the insurer's previous
chief economic officer, Howard Smith, of orchestrating sham transactions at the insurance
provider to hide its fiscal situation. A spokeswoman for Greenberg's lawyer, David Boies, declined
to remark on dropping the bid for a jury. Attorney Vincent Sama, who represents Smith, who also
sought a jury trial, stated he may possibly attraction the ruling. Ramos also read arguments by the
executives' attorneys on their motions to dismiss the circumstance. Boies explained the lawsuit
could not be pursued since Schneiderman no lengthier experienced "a practical treatment." New
York Lawyer Standard Eric Schneiderman, who inherited the scenario, was forced to drop his
statements for as considerably as $six billion in damages last 12 months after a class action
settlement among AIG shareholders and the executives and others above the allegedly improper
accounting. The legal professional standard is now seeking "unwell-gotten gains" from
Greenberg's compensation, in accordance to lawyer David Ellenhorn, who represents
Schneiderman. He also wants to bar the executives from serving as officers or administrators of
public companies and from participating in the securities enterprise. Boies argued that Greenberg,
88, has no intention of engaging in the securities enterprise or in acting as a director or officer of a
general public company. Greenberg is the chairman and main executive of the privately held C.V.
Starr & Co, which owns Starr Principal Holdings, a registered protection adviser. "He is managing
a company that is in the securities company," Ellenhorn said. Boies mentioned Greenberg failed
to participate in the administration of Starr Principal Holdings or its investment exercise. "That's
good, but it is not the total photograph," Ramos explained. "It sounds as if he's a control man or
woman...it opens the doorway to that affect." Nevertheless, Ramos did not rule on regardless of
whether the lawsuit, which was at first brought by previous New York lawyer common Eliot
Spitzer, need to proceed to demo. Greenberg led AIG for nearly four decades ahead of he was
ousted in 2005. The subsequent year, AIG paid $one.64 billion to settle federal and condition
probes into its organization procedures. The circumstance is Men and women v Greenberg, et al,
New York State Supreme Court, New York County, No. 401720/2005.
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