Monday, March 23, 2009
The Wall Street Journal: "American International Group Inc. (AIG) and Starr International Co. have resolved a long-running dispute over an art collection valued at one point at more than $15 million, in order to focus on a broader fight over control of Starr's ownership stake in the insurer. In a court stipulation filed Friday, AIG stated it has no interest in or right to possess 95 pieces of artwork that had been maintained in its offices. However, the artwork won't necessarily be immediately returned to Starr International, or SICO. The art will be used to satisfy any judgment in AIG's favor in a pending federal case over a block of AIG shares held by SICO.... The federal lawsuit ... is set for trial in June."