AIG’s United Guaranty to Appeal $45 Million SunTrust Order
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A unit of American International Group Inc., the insurer majority owned by the U.S. government, filed a notice of appeal challenging a judge’s order to pay more than $45 million to SunTrust Banks Inc. to fulfill mortgage insurance contracts.
AIG’s United Guaranty unit is seeking to reverse a court ruling that it must pay Atlanta-based SunTrust about $34 million for covered losses, $6 million in interest and $5.4 million in legal fees and costs, according court records. The notice of appeal was filed yesterday in federal court in Richmond, Virginia.