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ARIZ. LIFE & DISABILITY v. HONEYWELL

No. CV-96-0381-PR.

945 P.2d 805 (1997)

190 Ariz. 84

ARIZONA LIFE & DISABILITY INSURANCE GUARANTY FUND, an Arizona State Agency, Plaintiff/Counterdefendant/Appellant. v. HONEYWELL, INC., a Delaware corporation, and First Trust National Association, a corporation, Defendants/Counterclaimants/Appellees.

Supreme Court of Arizona, En Banc.

September 16, 1997.

Attorney(s) appearing for the Case

Grant Woods, Attorney General by W. Mark Sendrow, Assistant Attorney General, Phoenix, and Guttilla & Murphy, P.A. by Nicholas C. Guttilla, Phoenix, for Plaintiff-Counter defendant-Appellant.

Snell & Wilmer L.L.P. by John J. Bouma, Phoenix, Patrick G. Byrne and Popham, Haik, Schnobrich & Kaufman, Ltd. by David L. Hashmall, Karen R. Cole, Minneapolis, MN, for Defendants/Counterclaimants/Appellees.

OPINION

JONES, Vice Chief Justice.

The parties seek review of the court of appeals' ruling concerning guaranteed investment contracts (GICs) issued by the Executive Life Insurance Company (ELIC) to the trustee of certain employee retirement plans established by Honeywell, Inc. (Honeywell). See Arizona Life & Disability Ins. Guar. Fund v. Honeywell, Inc., 187 Ariz. 146, 927 P.2d 806...

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