Developer: Jubilee Square businesses told to redirect lease payments to bank - al.com

Developer: Jubilee Square businesses told to redirect lease payments to bank - al.com: "DAPHNE — What's in a name? A lot, these days, if the name is AIG.

Worried about the impact of the recent $182 billion federal bailout of New York-based insurer American International Group Inc. on the Birmingham-based development company AIG Baker, Regions Bank has directed the 37 businesses at the Jubilee Square shopping center to make monthly lease payments directly to the bank, according to AIG Baker officials.

Regions has declared AIG Baker in default on mortgages on both Jubilee Square and the Patton Creek Shopping Center in Hoover, according to letters sent to retailers operating in the two malls."