Executive life civil suits remain in limbo.Despite guilty pleas agreed to earlier this month by Credit Lyonnnis SA and an arm of the French government, efforts to obtain civil remedies CIVIL REMEDY, practice. This term is used in opposition to the remedy given by indictment in a criminal case, and signifies the remedy which the law gives to the party against the offender. 2. in the decade-long Executive Life scandal are at a stalemate stale·mate n. 1. A situation in which further action is blocked; a deadlock. 2. A drawing position in chess in which the king, although not in check, can move only into check and no other piece can move. tr.v. . Two state officers, the attorney general and insurance commissioner, are pursuing separate claims against Credit Lyonnais and other parties in an effort to recover damages, and a U.S. District Court ruling earlier this month aimed at clarifying which ought to proceed has delayed any resolution. The 9th Circuit Court of Appeals asked the California Supreme Court two weeks ago to decide whether Attorney General Bill Lockyer William Westwood "Bill" Lockyer (born May 8, 1941) is the current State Treasurer of California. Prior to this, he served as California's Attorney General and head of the Department of Justice for the U.S. state of California. has the right to pursue a lawsuit strikingly similar to the one initiated by Insurance Commissioner John Garamendi's department. The 9th Circuit decision reinstated the Attorney General's case, which had been dismissed by a judge in U.S. District Court, Central District of California. The decision could mean more delays for the millions of policyholders of Executive Life, said Gary Cohen
Gary Cohen (born April 29,1958 in Queens, New York) is an American sportscaster, best known as a radio and television play-by-play announcer for the New , general counsel for the California Department of Insurance The California Department of Insurance (CDI), established in 1868, is the angency charged with overseeing the regulation of insurance regulations, enforcing statutes mandating consumer protections, educating consumers, and fostering the stability of insurance markets in the state . "We can't try this case until we know whether the Attorney General is a party or not," he said. "That could cause some additional delay." The California Supreme Court will decide whether to hear the case by next month, Cohen cohen or kohen (Hebrew: “priest”) Jewish priest descended from Zadok (a descendant of Aaron), priest at the First Temple of Jerusalem. The biblical priesthood was hereditary and male. said. The 9th Circuit sent the case to the state court because, the opinion said, "we find the question presented concerning the attorney general's authority to prosecute the present action is so close on all grounds as to justify our request for guidance from the California Supreme Court." Lockyer spokesman Tom Dresslar said the attorney general's case is essential to recover restitution because, under the state's False Claims Act, the state can pursue three times the actual damages Noun 1. actual damages - (law) compensation for losses that can readily be proven to have occurred and for which the injured party has the right to be compensated compensatory damages, general damages sought by the Department of Insurance. Garamendi said that in pleading guilty to fraud charges and agreeing to pay about $575 million, Credit Lyonnais "prove(d) our point--that they defrauded the state of California and should disgorge all their ill-gotten gains." In his first term, Garamendi negotiated the sale of Executive Life to parties controlled by Credit Lyonnais, violating U.S. banking laws. |
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