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KENTUCKY CENT. LIFE INS. v. STEPHENS

No. 94-SC-617-TG.

898 S.W.2d 83 (1995)

KENTUCKY CENTRAL LIFE INSURANCE COMPANY, Appellant, v. Don W. STEPHENS, Commissioner of the Kentucky Department of Insurance, Appellee.

Supreme Court of Kentucky.

May 11, 1995.

Attorney(s) appearing for the Case

Charles S. Cassis, Brown, Todd & Heyburn, Louisville, Paul E. Sullivan, Thomas C. Walker, Susan Mohler, Kathryn Kendrick, Brown, Todd & Heyburn, Lexington, for appellant.

Steven L. Beshear, Janet A. Craig, Stites & Harbison, Lexington, Robert Michael Connolly, Charles J. Cronan, IV, Stites & Harbison, Louisville, Judith A. Villines, Stites & Harbison, Frankfort, for appellee.

REYNOLDS, Justice.

The statutory rehabilitation development process of Kentucky Central Life Insurance Company ("KCL"), in this case, invoked an argument that the Kentucky Insurance Commissioner ("Commissioner") lacked authority to manage the company's real estate portfolio and that an order approving a grouping of some real estate sales was erroneous.1

On February 11, 1993, the California Department of Insurance suspended KCL...

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