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PROCESS PLANTS v. BENEFICIAL INS.

53 A.D.2d 214 (1976)

Process Plants Corp., Respondent, v. Beneficial National Life Insurance Company, Appellant

Appellate Division of the Supreme Court of the State of New York, First Department.

July 8, 1976

Attorney(s) appearing for the Case

William E. Kelly of counsel (Charles M. Pratt and Brian P. Gunshor with him on the brief; Casey, Lane & Mittendorf, attorneys), for appellant.

Thomas R. Newman of counsel (John J. Bower and Steven DiJoseph with him on the brief; Bower & Gardner, attorneys), for respondent.

LUPIANO, BIRNS and SILVERMAN, JJ., concur in Per Curiam opinion; KUPFERMAN, J. P., and NUNEZ, J., dissent in separate opinions.

Per Curiam.

On December 8, 1967, defendant Beneficial National Life Insurance Company (hereinafter Beneficial) issued a policy of insurance on the life of Guy Barbolini in the amount of $1,017,665 to plaintiff Process Plants Corp. (hereinafter Process) as owner and beneficiary: Barbolini was an employee and president of Process. He died on October 2, 1968 of a heart attack, less than one year after issuance of the...

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