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Local Man Can’t Believe Hank Greenberg Might Win This AIG Case

At least one ex-Skadden attorney isn't sure why this case wasn't "laughed out of court," despite the fact that it might end up working out for ole Greenberg.
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Always sunny when Snowflake's around.

Several months back, former AIG chief Hank Greenberg's lawsuit against the government for stealing the insurance company he left in absolutely tip-top shape looked like a pathetic bid by a sad old man to restore his tattered reputation. Now that the trial has wrapped up, however, it looks like Snowflake’s Daddy might be a winner, at least until an appeals court gets its hands on the thing. Certainly, much of the credit for this goes to super attorney David Boies, who, it can be easily admitted, is a hell of a lawyer. But another key ingredient was U.S. Federal Claims Judge Thomas Wheeler, who some say is not quite as good a magistrate as Boies is an advocate.

“Greenberg got lucky with a judge who decided he wanted to listen to a claim that should have been laughed out of court,” said Dennis M. Kelleher, a former partner at Skadden Arps who runs the financial advocacy group Better Markets. “There’s a reason an appeals court uses three judges and not one. Because one person can always decide whatever he wants.”

A.I.G. Bailout Lawsuit Trial Ends as It Began, With Most Issues in Dispute [DealBook]


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