No. 86-1905.

857 F.2d 699 (1988)

Gerald GRIMES, Insurance Commissioner of the State of Oklahoma, Receiver for the United Equity Life Insurance Company; and Oklahoma Life and Health Guaranty Association, Plaintiffs-Appellants, v. CROWN LIFE INSURANCE COMPANY, Defendant-Appellee. Reinsurance Association of America and American Counsel of Life Insurance (ACLI), Amici Curiae.

United States Court of Appeals, Tenth Circuit.

Rehearing Denied October 14, 1988.

Attorney(s) appearing for the Case

Bert E. Marshall, Gen. Counsel, Oklahoma Ins. Dept., Oklahoma City, Okl., for Gerald Grimes, plaintiff-appellant.

Don J. Gutteridge, Jr. (Horace G. Rhodes and James W. Rhodes with him, on the briefs), Kerr, Irvine & Rhodes, Oklahoma City, Okl., for Oklahoma Life and Health Guar. Ass'n, plaintiff-appellant.

Burck Bailey, Fellers, Snider, Blankenship, Bailey & Tippens, Oklahoma City, Okl. (C. Wayne Litchfield, Litchfield & Wheeler, Oklahoma City, Okl., with him, on the brief), for Crown Life Ins. Co., defendant-appellee.

Daniel J. Conway, counsel for Reinsurance Ass'n of America, Washington, D.C., Jack H. Blaine, Washington, D.C., and Phillip E. Stano, counsel for American Council of Life Ins., on the brief, for amici curiae.

Before ANDERSON, BALDOCK and BRORBY, Circuit Judges.


This dispute arises out of efforts by the Oklahoma Insurance Commissioner as liquidator of the United Equity Life Insurance Company ("UELIC") to realize on a "Coinsurance Indemnity Reinsurance Agreement" (the "Agreement") entered into between UELIC and Crown Life Insurance Company ("Crown"). Gerald Grimes, the Oklahoma Insurance Commissioner, determined before UELIC was placed in liquidation that the Agreement between UELIC and...

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