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US Federal Reserve not entitled to take over insurer in exchange for a loan

Photo of Patrick Bracher (ZA)
By Patrick Bracher (ZA) on July 29, 2015

The US Court of Federal Claims decided that the Federal Reserve was not entitled to demand equity ownership and voting control of AIG as a consideration for the bailout loan in 2008. There was no law permitting the Federal Reserve to take over the company and to run the insurer’s business in the commercial world.…

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Norton Rose Fulbright’s financial institutions team provides straightforward legal updates. Our lawyers offer local insights with an international perspective recognised worldwide. This blog focuses on the South African market and is about sharing knowledge with you. Blog posts are not legal advice.

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