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A US judge has ruled that a department at insurer AIG cannot recover $19 million in defense and settlement costs it paid on AlixPartners’ behalf in connection with a private equity firm’s arbitration claim about the acquisition of a model railway maker. The judge found AlixPartners had properly reported the claim to the insurer. AlixPartners had been accused of failing to do the correct level of due diligence on behalf of private equity firm Kingsbridge Capital Management, over its acquisition of German model railway manufacturer, Marklin. Kingsbridge claimed the model maker underperformed against AlixPartners’ projections.

aig

See : www.law360.com

Peter Crush for Consultor.news

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