Wednesday February 19, 2020

AIB in court clash over $700m case on Rusnak

The bank is taking a case against AIG and other insurers, including Lloyds and Chubb, arising from the $700 million fraud by Rusnak at AllFirst, then part of the AIB group, in Baltimore, Maryland

9th December, 2018

AIB will be in the firing line for alleged oversight failures of US rogue trader John Rusnak in its multimillion-euro action for losses against the bank’s insurers.

The bank is taking a case against AIG and other insurers, including Lloyds and Chubb, arising from the $700 million fraud by Rusnak at AllFirst, then part of the AIB group, in Baltimore, Maryland.

The bank claims it is indemnified in respect of his actions for in...

Subscribe from just €1 for the first month!

Exclusive offers:

All Digital Access + eReader

Trial

€1

Unlimited Access for 1 Month

Then €19.99 a month after the offer period.

Get basic
*New subscribers only
You can cancel any time.

Annual

€200

€149 For the 1st Year

Unlimited Access for 1 Year

You can cancel any time.

Quarterly

€55

€42

90 Day Pass

You can cancel any time.

Team Pass

Get a Business Account for you and your team

Related Stories

The narrative of the Sinn Féin surge suggests that politics in Ireland is becoming more polarised like in the US and Britain, but the reality is far more complex

Colin Murphy | 3 days ago

Bank chief McDonagh says move would create better work environment for young parents and people with caring responsibilities

Killian Woods | 3 days ago

Despite a belated show of independence, the US attorney general has been a willing pawn in Trump’s interference in criminal investigations being carried out by the Department of Justice

Marion McKeone | 3 days ago