AIG Financial Products is in a long-running chapter 11 administration posture, with the docket currently centered on professional-fee administration and an omnibus/interim fee hearing set for June 30, 2026. The debtor filed in Delaware on December 14, 2022, through a Chapter 11 Voluntary PetitionDkt. 1, and its first-day declaration framed the case around the wind-down of AIG’s financial-products subsidiary, a former derivatives and structured-finance platform that had managed a large legacy book and carried a $37.4 billion unsecured parent revolver owed to American International Group, Inc. under the Kosturos First Day DeclarationDkt. 2.
After filing, the case appears to have proceeded less as an operating reorganization or asset-sale case and more as a controlled wind-down and litigation/claims-resolution process. One material contested path was adversary litigation over deferred-compensation-related issues, reflected in AIG FP’s 2023 declaratory-judgment complaint against numerous individual defendants in the Adversary ComplaintDkt. 1. The recent fee record shows that case activity has narrowed substantially: Latham’s latest supplement reports January-to-March 2026 work concentrated in fee applications, corporate governance and board matters, deferred-compensation-plan litigation, and case administration, with no billed work in plan and disclosure-statement categories for the period, as described in the Latham Fee SupplementDkt. 800.
The near-term posture is administrative. The debtor filed twelfth interim fee applications for Latham and Young Conaway covering January 1 through March 31, 2026, seeking $41,617.00 and $13,550.00 in fees, respectively, with an objection deadline of June 11, 2026 and a June 30, 2026 hearing date in the Twelfth Interim Fee ApplicationsDkt. 799. The court separately scheduled the June 30 omnibus/interim fee hearing before Judge Mary F. Walrath in Wilmington through the Omnibus Hearing OrderDkt. 802, while a later certificate of no objection authorized payment of 80% of Latham’s monthly fees for the same quarter without further order under the existing interim-compensation procedures in the Latham CNODkt. 804.