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...
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