NU Online News Service, June 24, 11:03 a.m. EDT
NEW YORK--Maurice R. Greenberg spent his sixth day on the witness stand yesterday sparring with the attorney for American International Group over what restrictions there were on use of AIG stock held by Starr International Company.
Mr. Greenberg, former chairman and chief executive officer of AIG, was forced out in 2005 but remained as chairman of AIG's sister company SICO, which holds a large block of AIG stock that the company is suing to have returned. SICO split from AIG shortly after Mr. Greenberg left the financially troubled conglomerate.
Some of the stock held by SICO had been held in trust to fund bonuses in a deferred compensation program for top AIG employees that was ended when SICO split from AIG.
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