[lbo-talk] AIG: how to break the contracts

[Steven L. Robinson]

This is literally grasping at straws. Among other things, the imposition of punitive damages depends upon the financial health of the defendants.  If AIG is on financial life support, it is hard to see how punitive damages could be justified. Further, in many states you can't punitive damages for a garden variety breach of contract. SR

----- Original Message -----

From: Michael Pollak 

AIG and administration sources said Saturday that after going over the

    insurer's legal obligations, Geithner agreed that the employees might

    win punitive damages if their contracts were broken.