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PACIFIC MUT. LIFE INS. CO. v. McCONNELL

Docket No. L.A. 23261.

44 Cal.2d 715 (1955)

285 P.2d 636

THE PACIFIC MUTUAL LIFE INSURANCE COMPANY OF CALIFORNIA (a Corporation) et al., Appellants, v. F. BRITTON McCONNELL, as Insurance Commissioner, etc., et al., Respondents.

Supreme Court of California. In Bank.

June 27, 1955.

Attorney(s) appearing for the Case

Joseph L. Lewinson, Frank B. Belcher, C. Ray Robinson, Melvin, Faulkener, Sheehan & Wiseman, Henry W. Low and William B. Boone for Appellants.

C. Ray Robinson and William B. Boone, as Amici Curiae on behalf of Appellants.

O'Melveny & Myers, Paul Fussell, Homer I. Mitchell, James E. Cross, George B. Gose, Frank P. Doherty, Guy Knupp and Peery Price for Respondents.

Lloyd W. Dinkelspiel and Heller, Ehrman, White & McAuliffe, as Amici Curiae on behalf of Respondents.

GIBSON, C.J.

The Pacific Mutual Life Insurance Company of California (hereinafter referred to as the "old company") and certain of its stockholders brought this mandamus proceeding in the superior court to review the action of the Insurance Commissioner in approving a plan for mutualization of a second corporation, Pacific Mutual Life Insurance Company (hereinafter called the "new company"), which had been organized by the commissioner as part of the rehabilitation...

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