NU Online News Service, Feb. 27, 2004, 4:37 p.m. EST – A life agent from Argentina won a round in a dispute with a unit of American International Group Inc., New York.[@@]
The agent, Carlos Parra, has accused AIG’s American Life Insurance Company subsidiary of using improper methods to get him to sign a release form, then taking away some of his best agents. The Inter-American Commercial Arbitration Commission awarded $4 million to Parra.
ALICO asked the federal court to vacate the arbitration award, but the court affirmed the award, according to lawyers from Kasowitz, Benson, Torres & Friedman L.L.P., New York, the firm that represents Parra.