U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 19176 / April 8, 2005
Securities and Exchange Commission v. Maurice R. Greenberg, C. V. Starr & Company, Inc. and American International Group, Inc., (S.D.N.Y. filed April 7, 2005) (Hellerstein, A. K.) M-18-304 (AH)
In the Matter of Certain Loss Mitigation Insurance Products
On April 7, 2005, the Securities and Exchange Commission obtained a protective order against respondents Maurice R. Greenberg ("Greenberg"), C.V. Starr & Company, Inc. ("C.V. Starr") and American International Group, Inc. ("AIG"), in the United States District Court for the Southern District of New York, to protect documents in the Commission's ongoing investigation. The respondents consented to the Order.
The Order prohibits the Respondents from interfering with the ability of the Commission to obtain any and all documents in the Respondents' possession or control. The Order also provides a procedure for documents outside the United States to be secured, brought to the United States and produced to the Commission and the New York Attorney General.
The Commission staff issued subpoenas to the Respondents and to Starr International Company, Inc. ("SICO") between March 25, 2005 and April 1, 2005. The Order finds that there is a need for an order preserving the security, location and integrity of documents relevant to the Commission's ongoing investigation and responsive to Commission subpoenas. The Order prohibits Respondents from interfering with the ability of the Commission to obtain documents in the Respondents' possession or control.
With respect to documents as to which there is a dispute among Greenberg, C.V. Starr, SICO and AIG concerning ownership and control, the Order prohibits Respondents from removing such documents from AIG premises and provides a procedure by which such documents shall be handled. Specifically, the Order incorporates a Letter Agreement among those parties, the Commission and the New York Attorney General setting forth an agreed procedure by with the documents will be secured, copied, brought to the United States and produced to the Commission and the New York Attorney General.