COMMERCIAL NATIONAL BANK IN SHREVEPORT et al., Petitioners,
v.
THE SUPERIOR COURT OF LOS ANGELES COUNTY, Respondent; JOHN GARAMENDI, as Insurance Commissioner, etc., et al., Real Parties in Interest.
Court of Appeals of California, Second District, Division Four.https://leagle.com/images/logo.png
March 22, 1993.
March 22, 1993.
Attorney(s) appearing for the Case
COUNSEL
Pillsbury, Madison & Sutro, Philip S. Warden, Robert L. Wallan, Lillick & Charles, Stephen Oroza, John M. Rosenthal, Kristine E. Bailey, Pachulski, Stang, Ziehl & Young, Larry W. Gabriel, Fried, Frank, Harris, Shriver & Jacobson, Jed S. Rakoff, Howard W. Goldstein, Stephen D. Alexander, Manatt, Phelps, Phillips & Kantor, Philip Recht, Weinberg & Green, Charles O. Monk II, Arthur F. Fergenson, Thelen Marrin Johnson & Bridges, Christine Franklin, Gary L. Fontana, Adams Duque & Hazeltine and Catherine Ruddy for Petitioners.
Squire, Sanders & Dempsey, R. Thomas Stanton, Joseph R. Cortese, Frances Floriano Goins and James W. Satola as Amici Curiae on behalf of Petitioners.
No appearance for Respondent.
Daniel E. Lungren, Attorney General, Edmund B. Mamer and Mark Richelson, Deputy Attorneys General, Rubinstein & Perry, Dana Carli Brooks, Matthew G. Ainley, Karl L. Rubinstein, McNitt, Edwards & Schraner, Kenneth A. Zak, Brobeck, Phleger & Harrison, Robert L. Hagle, Kent M. Roger, G. Larry Engel, David M. Higgins, Mahoney, Coppenrath, Williams & Jaffe, Walter Coppenrath, Jr., Marie E. Collins, Irell & Manella, Kenneth Robert Heitz, Kevin A. Frankel, Parker, Milliken, Clark, O'Hara & Samuelian, Michael S. Simon, Hopkins & Sutter, Carlisle Herbert, Van Bourg, Weinberg, Roger & Rosenfeld, Michael B. Roger, Dan Siegel and Peter N. Hagberg for Real Parties in Interest.
Buchalter, Nemer, Fields & Younger, Jonathan F. Bank and Iain A.W. Nasatir as Amici Curiae on behalf of Real Parties in Interest.
Court of Appeals of California, Second District, Division Four.
OPINION
EPSTEIN, J.
This is the second case to reach us as a result of the insolvency of Executive Life Insurance Company (ELIC). In the first, Texas Commerce Bank v. Garamendi (1992) 11 Cal.App.4th 460 [14 Cal.Rptr.2d 854], we held that municipal bond guarantee contracts (Muni-GIC's) issued by ELIC in 1986 were annuities and...
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