Saturday, February 12, 2005
First friendly transaction in Executive Life lawsuit settled
The first significant friendly transaction in the civil lawsuit involving the illegal 1991 purchase of insurer Executive Life was signed Friday by Aurora, property of the holding of Francois Pinault Artemis, for 80 million dollars, a source close to the California Insurance Department said.
"They have settled yesterday with one of the American parties, with Aurora. The company has agreed to pay 80 million dollars," the source said.
