Greenberg Seeking AIG Assets

Maurice “Hank” Greenberg, former CEO and AIG critic, has asked the company’s CEO for the opportunity to bid on any assets the insurer plans to sell, according to The Wall Street Journal.

Greenberg made the request to Edward Libby, who took over AIG two weeks ago when the government agreed to let AIG borrow up to $85 billion in order to help it avoid a possibly bankruptcy filing. As a result, the United States government will control 80 percent of the company.

In his letter, dated September 29, Greenberg wrote, “now understand that the company has begun to liquidate itself by selling assets in privately negotiated transactions without transparency and without providing the opportunity for the participation of alternative purchasers."

Greenberg added that he wanted to formally request to have the opportunity to submit an offer on any assets that the company intends to sell. Greenberg left AIG amid an accounting scandal in 2005 and is currently fighting civil charges related to his time at AIG.

A spokesperson for AIG said that the company is open to all reasonable expression of interest in the assets AIG plans to sell, according to WSJ.