STOLI - We reported in detail on developments in the case law and legislation addressing stranger-originated life insurance (STOLI) policies in past issues of Expect.
Delaware Supreme Court issued Wells Fargo Bank, N.A. and Berkshire Hathaway Life Insurance Company of Nebraska v. Estate of Phyllis M. Malkin decision. Rejects idea that Delaware estate statute forecloses all defenses, disallows sued party premium recovery.
On May 26, 2022, the Supreme Court of the State of Delaware issued its decision in Wells Fargo Bank, N.A. and Berkshire Hathaway Life Insurance Company of Nebraska v. Estate of Phyllis.
Delaware Supreme Court issued Wells Fargo Bank, N.A. and Berkshire Hathaway Life Insurance Company of Nebraska v. Estate of Phyllis M. Malkin decision. Rejects idea that Delaware estate statute forecloses all defenses, disallows sued party premium recovery.
A federal appeals court on Thursday asked the Delaware Supreme Court to decide whether a state law that voids “stranger-originated life insurance” policies, or STOLIs, can be enforced against a subsequent investor who acquired the policy in good faith.