Judge Denies Dismissal In Estate’s Suit Seeking Benefits Of 2 $5M STOLI Policies

(February 6, 2024, 10:31 AM EST) -- NEW HAVEN, Conn. — A Connecticut federal judge denied dismissal motions filed by a bank acting as securities intermediary for two $5 million stranger-originated life-insurance (STOLI) policies and a limited partnership and beneficial owner of the policies in an estate’s suit seeking to recover death benefits, finding that the estate’s pleadings sufficed to show that the bank acted under the direction of the partnership to maintain the policies for the partnership’s benefit....