Motion To Quash Denied In $3M STOLI Policy Row Involving Insurer And Intermediary

( October 28, 2024, 1:52 PM EDT) -- CINCINNATI — A federal magistrate judge on Oct. 25 denied a retired life insurance company employee’s motion to quash a subpoena in a special action filed in Ohio federal court related to litigation in a Delaware federal court where a life insurer sued a securities intermediary seeking a declaratory judgment that a policy owned by the securities intermediary is void ab initio as a stranger originated life insurance (STOLI) policy, finding that the insurer and employee failed to show that deposing the employee “would impose an undue burden or is not proportional to the needs of the case.”...