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LOS ANGELES, June 1 (UPI) -- A California judge ordered both sides in the trial of an insurer whose failure left 300,000 policyholders uncovered to hold settlement talks.
Last month a jury exonerated French billionaire Francois Pinault of culpability in Executive Life's 1991 collapse, but convicted the firm he controlled, Artemis, of conspiracy and fraud in the insurance company's failure.
Rather than ask the jury to settle damages, U.S. District Judge A. Howard Matz told both Pinault and state Insurance Commissioner John Garamendi to spend Friday and Saturday face-to-face, the Los Angeles Times said Wednesday.
The case is driven by concerns for more than 300,000 Executive Life policyholders entitled to an estimated $4 billion in losses incurred when the company went belly up.
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CANBERRA, Australia, May 23 (UPI) --
Australia has passed legislation establishing the $10 billion Clean Energy Finance Corp. to provide grants and government investment to green projects.
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FORT WAYNE, Ind., May 23 (UPI) --
Self-encrypting drives to protect data on mobile platforms such as laptops are to be developed for the U.S. Air Force by ITT Exelis.
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The housing inventory rose slightly in April, which is unusual in the middle of the spring sales season. The uptick may be the result of rising seller confidence and it should ease concerns that the super tight inventory levels of the last six months...
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What if Europe turned out to be the new Japan?
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