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SCHWARTZ v. SELDON

No. 34.

153 F.2d 334 (1945)

SCHWARTZ v. SELDON.

Circuit Court of Appeals, Second Circuit.

Rehearing Denied February 1, 1946.

Attorney(s) appearing for the Case

Louis Koenigsberg, of Brooklyn, N. Y. (Walter B. Milkman, of Brooklyn, N. Y., on the brief), for bankrupt.

Henry W. Parker, of New York City (Max Schwartz, of New York City, on the brief), for trustee.

Before SWAN, CHASE, and CLARK, Circuit Judges.

SWAN, Circuit Judge.

The question before us on these cross-appeals is whether the cash surrender values of two life insurance policies, in each of which the bankrupt is the insured and his wife the beneficiary with power reserved to the insured to change the beneficiary, are exempt from the claims of the insured's trustee in bankruptcy under the provisions of the Insurance Law of New York, § 166, Ch. 28, Consol. Laws...

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