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QUACKENBUSH v. MISSION INS. CO.

Docket No. B094721.

46 Cal.App.4th 458 (1996)

CHARLES QUACKENBUSH, as Insurance Commissioner, etc., Plaintiff and Respondent, v. MISSION INSURANCE COMPANY, Defendant; MARK BOOZELL, as Insurance Director, etc., et al., Claimants and Appellants.

Court of Appeals of California, Second District, Division One.

June 14, 1996.

Attorney(s) appearing for the Case

COUNSEL

Sidley & Austin, James M. Harris, Thomas E. Patterson, Catherine Valerio Barrad, Robert A. Holland, James R. Stinson, Peter Gallanis, Debra J. Hall, George M. Brady III, Anthony J. Mormino, Rudnick & Wolfe, Stephen W. Schwab, J. Douglas Baldridge, Elizabeth A. Graber, Pachulski, Stang, Ziehl & Young, Iain A.W. Nasatir, Katten, Muchin, Zavis & Weitzman, Stuart M. Richter, Melody Williams Dapp, Katten, Muchin & Zavis, Donald E. Egan, Clay A. Tillack, Mendes & Mount and Mark S. Facer for Claimants and Appellants.

William W. Palmer, Rubenstein & Perry, Karl L. Rubinstein, Dana Carli Brooks and Melissa S. Kooistra for Plaintiff and Respondent.

OPINION

ORTEGA, J.

Pursuant to the Insurance Code, Insurance Commissioner Charles Quackenbush (Commissioner) assumed responsibility for managing the insolvency of Mission Insurance Company (Mission), a defunct insurer. Mission both bought and sold reinsurance, in which the reinsured contracted with other insurance companies to exchange some of its policyholders' premiums for indemnity against covered losses incurred by its insureds...

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