(Bloomberg) -- American International Group Inc., the world's biggest insurance company, sued Tyco International Ltd. in effort to stop a plan by the company to buy back $6.6 billion of debt.
Bondholders led by AIG have claimed that Tyco is offering about $95 million less than what they are entitled to under contracts governing the terms of the securities. The suit was filed late yesterday in federal court for the Southern District of New York. A copy was sent today by Paul, Weiss, Rifkind, Wharton & Garrison LLP, which represents Tyco's bondholders. Andrew Rosenberg, a lawyer at the firm in New York, declined to comment.
Read more at Bloomberg Bonds News
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