(Bloomberg) – The U.S. Supreme Court rejected an appeal by Maurice 'Hank' Greenberg's Starr International Co., refusing to revive its bid to sue the federal government over the $85 billion bailout of American International Group Inc. a decade ago.
Related: No satisfaction for Hank Greenberg following appeals court ruling
The justices, without comment, left intact a federal appeals court ruling that said Starr, one of AIG's largest shareholders, doesn't have the legal right to sue the government.
2008 bailout of AIG
The 2008 bailout saved what was then the country's biggest insurer from imminent collapse in the midst of a national housing crisis.
The lawsuit sought compensation for what Greenberg's lawyers said were onerous bailout terms that gave the government 80% of AIG's equity. The government later sold its stock for almost $18 billion.
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