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AIG seeks to delay Bank of America mortgage settlement

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NEW YORK — American International Group is continuing its quest to upend an $8.5 billion settlement between Bank of America and a group of mortgage securities investors.

AIG’s lawyers filed papers Tuesday in New York State Supreme Court seeking to delay final approval of the settlement between Bank of American and a group of 22 investors.

Justice Barbara Kapnick approved most of the settlement last Friday, but allowed some of investors’ claims against the bank to stand. AIG argued in court papers filed Tuesday that the issues raised by Kapnick needed to be aired before a final sign off was entered.

In a minor victory for AIG, the new judge overseeing the case, Justice Saliann Scarpulla scheduled a hearing on the issues for Feb. 19, according to lawyers in the case.

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