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UNISYS CORP. v. CALIF. LIFE & HLT. INS. GUARANTEE ASS'N

Docket No. A072015.

63 Cal.App.4th 634 (1998)

UNISYS CORPORATION, Plaintiff and Appellant, v. CALIFORNIA LIFE AND HEALTH INSURANCE GUARANTEE ASSOCIATION, Defendant and Respondent.

Court of Appeals of California, First District, Division Three.

April 28, 1998.

Attorney(s) appearing for the Case

COUNSEL

Ballard, Spahr, Andrews & Ingersoll, David H. Pittinsky, Lawrence D. Berger, McKenna & Cuneo, Susan A. Mitchell and Cynthia Beckwith for Plaintiff and Appellant.

Adams, Duque & Hazeltine, Ann Sparkman, Randy G. Gerchick, Thelen, Marrin, Johnson & Bridges and James R. Willcox for Defendant and Respondent.

Anthony Buonaguro, John Del Campo, Kerr, Irvine, Rhodes & Ables and James W. Rhodes as Amici Curiae on behalf of Defendant and Respondent.

OPINION

CORRIGAN, J.

This litigation arises out of the failure of Executive Life Insurance Company (Executive Life) and resultant losses suffered by participants in two Unisys Corporation 401(k) plans that had invested in Executive Life guaranteed investment contracts. The specific question on appeal is whether the California Life and Health Insurance Guarantee Association Act

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