Credit Lyonnais

The California Department of Insurance received $600 million for investment fraud against the French bank. The French state-funded body Consortium de Realisation assumed Credit Lyonnais' debts and bad assets before the bank was privatized in 1999. $75 million will go to Sierra National Insurance Holding Co., $375 million will remain in holding for US government payouts and the rest will go to Executive Life policyholders. (Feb-16-05)

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