LOS ANGELES -- Supporters of a modified rehabilitation plan for the failed Executive Life insurance Co. expressed delight yesterday over a California appellate court's refusal to block a transfer of the company's assets to a successor company.

"This is great news for us," a spokesman for the new entity, Aurora National Life Insurance Co., said about Tuesday's court decision. Aurora is controlled by a French investor group led by Mutuelle Assurance Artisanale de France.

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