9th Circ. Tosses $2.41M Award In Executive Life Case

Law360, New York (August 26, 2008, 12:00 AM EDT) -- An appeals court has vacated $2.41 million in restitution ordered against Artemis SA in a fraud case arising from the collapse of Executive Life Insurance Co., giving California's insurance commissioner another chance to argue damages in the case.

In an order issued Monday, the U.S. Court of Appeals for the Ninth Circuit ordered a new trial to determine damages Artemis should be ordered to pay in connection with a scheme to circumvent state and federal laws during a state sale of the failed insurer's assets in...
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