OTHER NEWS - Feb. 7, 1992
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From Times Staff and Wire Reports
Judge to Address Executive Life Bond Payout: A Los Angeles judge agreed to consider a request that some policyholders of failed Executive Life Insurance Co. be paid face value for their bonds, rather than a discounted price. Superior Court Judge Kurt J. Lewin will consider the request Feb. 25. At that time, he also will review a state Department of Insurance revitalization plan for the insurance company. Under the plan, 95% of Executive Life policyholders are expected to receive 100% of the value of their bonds up to $100,000.
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