Excerpts from the depositions - Wall Street Journal
Excerpts from the depositions - Wall Street Journal
Excerpts from the depositions - Wall Street Journal
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Case 2:11-cv-10549-MRP-MAN Document 254-1 Filed 03/28/13 Page 12 of 35 Page ID<br />
#:16601<br />
one occasion, I was dealing directly with Mr. Heckart. Q. [] What level of familiarity<br />
would you describe yourself as having with respect to <strong>the</strong> Term Sheet? [Objection] A. I<br />
reviewed <strong>the</strong> Term Sheet thoroughly.” 132:21–133:21.<br />
Holmes testified that he had no discussions with anyone about transferring AIG’s fraud<br />
claims.<br />
• “Q. I’d like to ask you some questions about <strong>the</strong> period <strong>from</strong> whenever you learned<br />
about it in October until when [<strong>the</strong> APA] was executed . . . in December of 2008. . . .<br />
During that time period, did you have—did you discuss with anyone <strong>the</strong> question whe<strong>the</strong>r<br />
AIG would be transferring legal claims to Maiden Lane II as part of <strong>the</strong> transaction? . . .<br />
A. There was—<strong>the</strong>re was no discussion about transferring tort claims, we’ll call<br />
<strong>the</strong>m—I’ll call <strong>the</strong>m, during, during <strong>the</strong> course of those discussions and—I’ll end<br />
<strong>the</strong>re.” 53:3–23.<br />
• “Q. Do you recall any discussion with anyone about whe<strong>the</strong>r AIG would be transferring<br />
legal claims that can be asserted in a lawsuit to Maiden Lane II as part of <strong>the</strong> transaction?<br />
[Objection] A. Yeah, so, as I think you know, we’ll just say, <strong>the</strong>re are different<br />
rights that you have with—to pursue. So, as you know, <strong>the</strong> rights to get <strong>the</strong>—cause<br />
<strong>the</strong> trustee to go get securities, mortgages back whenever <strong>the</strong> mortgages don’t meet<br />
certain standards as set out in <strong>the</strong> documents is a right that goes with <strong>the</strong><br />
documents. To <strong>the</strong> extent you’re asking me—and I think you are—about rights<br />
associated with AIG’s losses at <strong>the</strong> time AIG owned <strong>the</strong> securities, and that were—<br />
arose as a result of communications relating to <strong>the</strong> securities in connection with AIG<br />
buying <strong>the</strong>m, those claims, those second set of claims, we never, ever discussed<br />
transferring those.” 58:23–59:24.<br />
• “Q. Mr. Holmes, I think you testified earlier that during <strong>the</strong> time frame we were<br />
discussing, between when you first learned of Maiden Lane II and when <strong>the</strong> con—<strong>the</strong><br />
Asset Purchase Agreement was signed, you had no discussions with anyone about<br />
whe<strong>the</strong>r tort claims would be assigned by AIG to Maiden Lane II; is that correct? A.<br />
That’s correct.” 61:20–62:3.<br />
• “Q. Do you recall any discussions about whe<strong>the</strong>r any causes of action that AIG<br />
possessed would be transferred to Maiden Lane II? A. O<strong>the</strong>r than enforcement rights<br />
in <strong>the</strong> documents, which we’ve talked about, AIG’s rights were not going to transfer<br />
and <strong>the</strong>re were no discussions about that.” 62:25–63:8.<br />
• “Q. Do you recall any written communications that you had with anyone regarding<br />
whe<strong>the</strong>r or not AIG would be transferring any tort claims to Maiden Lane II? A. I don’t<br />
recall any communications on transferring tort claims.” 68:22–69:4.<br />
• “Q. And do you recall any written communications about whe<strong>the</strong>r or not AIG would be<br />
transferring <strong>the</strong> right to bring statutory claims relating to <strong>the</strong> RMBS to Maiden Lane II?<br />
A. . . . [T]here was no discussion of those types of claims. Q. And no written<br />
communications on <strong>the</strong> subject? A. No. No written, no oral. No. Nothing.” 69:12–<br />
70:4.<br />
• “Q. Do you recall any written communication concerning whe<strong>the</strong>r or not AIG would be<br />
transferring causes of action to Maiden Lane II? A. No, I would lump that in with <strong>the</strong><br />
same general category of <strong>the</strong> previous two we talked about.” 70:5–11.<br />
EXHIBIT 2<br />
2