AIB in court clash over $700m case on Rusnak

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

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 excess...

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