Big difference here is Executive Life was insolvent, which is why to DOI stepped in. Applied isn’t insolvent. Executive Life’s junk bonds (auctioned off by DOI) were purchased by Altus (a French company) which then operated behind the scenes when they couldn’t get approval to sell in CA. Their case was DOI sued Altus for conspiracy. And yep, it took forever in court and the price on both sides must have been insane.
Just remember what the DOI did to Executive Life…………..
Big difference here is Executive Life was insolvent, which is why to DOI stepped in. Applied isn’t insolvent. Executive Life’s junk bonds (auctioned off by DOI) were purchased by Altus (a French company) which then operated behind the scenes when they couldn’t get approval to sell in CA. Their case was DOI sued Altus for conspiracy. And yep, it took forever in court and the price on both sides must have been insane.