AIG says Treasury will get Hank Greenberg’s money

AIG said it would use $4.3bn it is seeking from former chief executive Hank Greenberg’s Starr International to repay the US government, the FT reports.

Greenberg’s team has said AIG’s demand for the $4.3bn was to boost executives pay and bonuses.

The case is scheduled to begin on Monday in the US District Court in Manhattan.

The case concerns a long-contested block of AIG shares held by Starr International taken by Greenberg when he left AIG.