OTHER NEWS - Dec. 12, 1991
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From Times Staff and Wire Reports
Final Arguments in Executive Life Case Heard: Attorneys representing parties involved in the failure of Los Angeles-based Executive Life Insurance Co. presented their final arguments regarding the proposed buyout plan put forward by a French consortium. Altus Finance and Mutuelle Assurances Artisanale de France propose to buy the insurer for about $3.55 billion and pay policyholders about 72 cents on the dollar. The transaction is expected to be approved within the next few weeks.
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