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Non-Tech : Conseco Insurance (CNO)
CNO 40.18-0.3%Dec 5 9:30 AM EST
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To: jeffbas who wrote (450)12/4/1997 9:51:00 PM
From: M.A. Miller   of 4155
 
If the execs defaulted on the bank loans, and CNC had to guarantee, then CNC would have a fiduciary duty to its shareholders to proceed against the execs. No doubt in my mind. And if the Board didn't pursue the execs, they would face personally liability themselves.

It is a legitimate transaction and no default will occur so its a mute point.
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