Monday July 6, 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

As the online debate on trans issues remains heated, those affected by them in the real world are calling for more support, space and understanding. But are their voices being heard?

Colin Murphy | 2 weeks ago

The former NTMA head says he is ‘quite alarmed’ at the potential for legal actions over the large number of deaths in nursing homes during the crisis

Michael Brennan | 2 months ago

Oil storage in the self-styled ‘Pipeline Crossroads of the World’ is full to the brim, but the black stuff keeps on coming. With much of the world’s economy in a Covid-19 slowdown, at one point last week, benchmark US crude oil was priced at minus $37.63 a barrel

Barry J Whyte | 2 months ago