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LIBERTY NAT. BANK AND TRUST CO. v. LIFE INS. CO. OF CINCINNATI

Nos. 88-6129, 88-6154.

901 F.2d 539 (1990)

LIBERTY NATIONAL BANK AND TRUST COMPANY, Executor of the Will of Louis E. Troutman, Deceased, and Rinda Gaye McQuaide and Troutman Insurance Incorporated, Plaintiffs-Appellants, Cross-Appellees, v. The LIFE INSURANCE COMPANY OF CINCINNATI, Defendant-Appellee, Cross-Appellant.

United States Court of Appeals, Sixth Circuit.

Decided April 26, 1990.

Attorney(s) appearing for the Case

Gerald R. Toner (Argued), Stephen A. Watkins, Ogden, Sturgill & Welch, Louisville, Ky., for plaintiffs-appellants, cross-appellees.

Winfrey P. Blackburn, Michael D. Risley (Argued), Stites & Harbison, Louisville, Ky., for defendant-appellee cross-appellant.

Before KENNEDY and NELSON, Circuit Judges, and WISEMAN, Chief District Judge.

DAVID A. NELSON, Circuit Judge.

This is an action for the recovery of $875,000 in death benefits under two insurance policies. The insured had obtained a $1 million replacement policy some months before his death and had stopped the payment of premiums on the original policies. He did so, according to the plaintiffs, in reliance on erroneous information given him by the defendant insurance company with regard to the cash surrender value of one of the original policies...

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