Law360, London (November 25, 2019, 7:03 PM GMT) -- AIG's financial products unit told an appeals court Monday that a London judge’s decision that ex-executives are entitled to deferred bonuses predating the financial crisis ignored that employees shared in the risks as well as the rewards of the business under the compensation plan.
On the High Court judge’s construction, the employee participants’ interests were not aligned with those of parent company AIG Inc., which would bear the risk while the employees reaped rewards, said Peter Goldsmith QC of Debevoise & Plimpton LLP, representing AIG Financial Products Corp.
The appeal challenges a November 2018 ruling finding that AIG FP had a...
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