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AIG's financial products unit files for Chapter 11 bankruptcy

Since its collapse, AIGFP has remained a legal entity for the purpose of settling lawsuits but has ceased operations and has no employees

The bankruptcy filing said that the unit still owes AIG $37.4bn stemming from the collapse, a sum included in crisis-related losses the parent posted in 2008 and proceeded to cover through the US government's $182bn bailout of the group

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