American International Group AIG announced today that its
Board of Directors has adopted Amendment No. 1 to AIG's Tax Asset
Protection Plan (the Plan). The Plan, which is designed to protect AIG's
substantial tax assets, was originally scheduled to expire at the close
of business on March 9, 2014 (subject to other earlier termination
events as described in the Plan). Amendment No. 1 to the Plan extends
the expiration date of the Plan to January 8, 2017 (subject to other
earlier termination events as described in the Plan). As of December 31,
2013, AIG had significant U.S. federal net operating loss carryforwards,
capital loss carryforwards and foreign tax credits.
See full press release
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