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IN RE KEIL

No. 195.

88 F.2d 7 (1937)

In re KEIL.

Circuit Court of Appeals, Second Circuit.

February 1, 1937.

Attorney(s) appearing for the Case

Nathan Schwartz, of Brooklyn, N. Y. (Max Schwartz and Samuel C. Duberstein, both of Brooklyn, N. Y., on the brief), for appellant.

Samuel Lemler, of New York City, for bankrupt-appellee.

Solon Weit, of New York City (Merwin F. Le Vine, of New York City, on the brief), for appellee Prudential Insurance Company of America.

Albert Hirst, of New York City, for New York State Life Underwriters Association, amicus curiæ.

Before MANTON, SWAN, and CHASE, Circuit Judges.

SWAN, Circuit Judge.

Samuel Keil was adjudicated bankrupt upon his voluntary petition filed June 6, 1935. His trustee in bankruptcy came into possession of four policies of insurance upon the bankrupt's life, each of which named as beneficiary some member of his immediate family. In the case of each policy dividends declared by the insurance company had been left to accumulate to the credit of the policy pursuant to an option expressed in the policy and exercised...

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