Jurors in Exec Life Case Take Their Time

Los Angeles Times ^ | May 7, 2005 | Debora Vrana

[calcowgirl]

Even after sitting through eight weeks of complex testimony — some of it in French — the jury in the Executive Life Insurance Co. trial has been in no hurry to go home.

Defying some early predictions of a quick verdict in the civil case, which pits state Insurance Commissioner John Garamendi against one of the richest men in France, the jury has been deliberating since April 18 and has given little indication that a decision is imminent.

In what could be a sign that judicial patience may be getting a bit strained, U.S. District Judge A. Howard Matz told the jury to have its lunch Thursday at the courthouse — breaking the panel's daily routine of eating out at nearby restaurants.

(snip)

"We're all encouraged at how seriously the jury is taking this, and anything that speeds up the process is a good thing," said James Clark, who is representing French billionaire Francois Pinault, the only major defendant remaining in the case, which was filed in 1998.

The Executive Life trial included more than 40 witnesses — some of whom testified in French, requiring the services of an interpreter — and more than 1,800 exhibits, some of which related to complicated junk-bond transactions. Since it began deliberations, the jury has sent out notes requesting more information, such as transcripts of testimony and questions about issues in the case.

(snip)

In the Executive Life suit, the state is seeking $1 billion in damages and interest from Pinault. The state alleges that Pinault was involved in conspiracy with French banking giant Credit Lyonnais and others to reap billions in illegal profits from the 1991 collapse of Executive Life — at the time the largest insurer in California. During his testimony, Pinault denied any wrongdoing.

[MarkT]

This is a tough call...it is one of those rare cases one wishes both sides could lose...Credit Lyonnais clearly mis-represented the facts in its reps to acquire the Executive Life assets/liabilities but also the CA insurance commissioner is a total asshole whose primary goal in life like the NY A. G., Spitzer, is to use his office for pursuit of press coverage and a run for the governorship of his respective state.

[calcowgirl]

>>. . . but also the CA insurance commissioner is a total asshole whose primary goal in life like the NY A. G., Spitzer, is to use his office for pursuit of press coverage and a run for the governorship of his respective state

How true!

[Socratic]

Feed 'em intravenously and wheel them into deliberations each day on gurneys. I think they're liking this "jury thing" too much.