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MORTELL v. MUTUAL SEC. LIFE INS. CO.

Nos. 49A02-9408-CV-505.

655 N.E.2d 110 (1995)

John F. MORTELL, as the Commissioner of the Department of Insurance of the State of Indiana, Petitioner, v. MUTUAL SECURITY LIFE INSURANCE COMPANY, Respondent. John M. HATCHER, as Trustee of the Whitley County Memorial Hospital Retirement Plan, et al., Appellants-Plaintiffs, v. INDIANA LIFE AND HEALTH INSUANCE GUARANTY ASSOCIATION, et al., Appellees-Defendants. Dale L. HAUPERT, Individually and as Trustee of the John Cottrell Irrevocable Trust, Appellant-Plaintiff, v. INDIANA LIFE AND HEALTH INSUANCE GUARANTY ASSOCIATION, and John F. Mortell, as the Commissioner of the Department of Insurance of the State of Indiana, Appellees-Defendants.

Court of Appeals of Indiana.

August 31, 1995.

Attorney(s) appearing for the Case

Alan Verplanck and David R. Steiner, Fort Wayne, for John M. Hatcher, et al.

James P. Posey, Fort Wayne, for Dale L. Haupert.

Pamela Carter, Attorney General of Indiana and Terry G. Duga, Deputy Attorney General, Indianapolis, for appellee.

OPINION

KIRSCH, Judge.

In this consolidated appeal, the Hatcher Appellants and the Haupert Appellants (collectively the Insureds) are the owners, either individually or as trustees, of insurance annuity contracts (the Insurance Contracts) issued by Mutual Security Life Insurance Company (Mutual Life). Upon petition of the Commissioner of the Indiana Department of Insurance, the Marion Circuit Court declared Mutual Life insolvent and ordered it liquidated...

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