Davis Polk, Weil Gotshal, and Sullivan lead on new AIG bailout

The American International Group (AIG) lost a record sum of $99 billion in 2008. To save the US insurance giant, the Treasury Department yesterday agreed to another $30 billion government bailout. Davis Polk & Wardwell advised the federal government on the newest round of bailout talks, while Sullivan & Cromwell and Weil, Gotshal & Manges served as counsel to AIG.