Harris Beach Business and Commercial Litigation team has won a decisive victory in a decision issued by the Eighth U.S. Circuit Court of Appeals in the latest chapter of a long-running litigation over who is entitled to the proceeds of a $10 million life insurance policy on the life of a Brooklyn resident. The U.S. District Court for the District of South Dakota granted Harris Beach client summary judgment as against each of the two competing claimants for the proceeds. One of the parties, the estate of the insured, appealed from the final judgment.
The Eighth Circuit upheld the summary judgment determination in favor of Harris Beach’s client. As Harris Beach requested in its cross-appeal, the Eighth Circuit also remanded the case to the District Court to reconsider the application for sanctions against counsel for the insured’s estate. The Eighth Circuit’s decision is available here. The decision was also covered in The Daily Record and you can read the article here. To learn more about the case or Harris Beach’s experience in the life settlements industry, please contact Doug Foss, Lana Ivy or Kelly Foss.