Judge Grants Partial Judgment In Dispute Over $5M STOLI Policy’s Validity

Mealey's (October 11, 2022, 9:51 AM EDT) -- NEWARK, N.J. — A New Jersey federal judge granted an insurer’s motion for judgment on the pleadings of certain counterclaims and to strike certain defenses brought by a securities intermediary holding a stranger-originated life insurance (STOLI) policy but allowed certain counterclaims to proceed on the basis that the intermediary was misled into continuing to pay premiums in the belief that it had a valid policy....