Dismissal Recommended In Wells Fargo Row With Insurer Over Possible STOLI Policies

(July 31, 2023, 1:43 PM EDT) -- GREENSBORO, N.C. — A North Carolina federal magistrate judge on July 28 recommended dismissing a suit filed by Wells Fargo Bank against an insurer, seeking a judgment as to validity of certain life insurance policies, finding that the court lacks jurisdiction because the complaint fails to show that the insurer is more likely to challenge the policies at issue as stranger-oriented life insurance (STOLI) policies “than any other life insurance policy it has issued.”...