NEW YORK ( TheStreet) -- A special, four-member AIG board panel has brought on its own independent financial adviser, indicating the insurer is getting ready for plans to repay the large debts it still owes U.S. taxpayers, according to the Wall Street Journal.

The committee, whose members include AIG directors versed in restructuring and workout situations, has hired investment banking company Rothschild for the job, according to the newspaper, which cited a source close to the situation.

OTC Derivatives Don't Need Fixing (Forbes)

The panel was assembled by AIG nonexecutive chairman Harvey Golub and tasked with supervising "the largest capital restructuring in history," the Journal reports, citing another source familiar with the situation.

The news comes ahead of an annual shareholders meeting that AIG has scheduled for Wednesday.

TheStreet will be covering the meeting in a live blog.

-- Reported by Andrea Tse in New York

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