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PHL VARIABLE INSURANCE COMPANY v. 2008 CHRISTA JOSEPH IRREVOCABLE TRUST

No. 13-3255.

782 F.3d 976 (2015)

PHL VARIABLE INSURANCE COMPANY, Plaintiff-Appellee v. 2008 CHRISTA JOSEPH IRREVOCABLE TRUST, by and through its trustee, BNC NATIONAL BANK, Defendant Midas Life Settlements LLC, Intervenor Defendant-Appellant.

United States Court of Appeals, Eighth Circuit.

Filed: April 9, 2015.

Attorney(s) appearing for the Case

Robert Mark Loeb , argued, Washington, DC, Thomas Franklin Nelson , Kadee J. Anderson , Minneapolis, MN, Philipp Smaylovsky , Silvia Araxie Babikian , Marc R. Shapiro , Alec Orenstein , New York, N.Y., William A. Molinski , Los Angeles, CA, Khai LeQuang, I , Irvine, CA, on the brief, for Intervenor Defendant-Appellant.

Thomas F.A. Hetherington , argued, David T. McDowell , Jarrett E. Ganer , Erin E. Bennett , Rebecca A. Muff , on the brief, Houston, TX, for Plaintiff-Appellee.

Before LOKEN, COLLOTON, and SHEPHERD, Circuit Judges.

PHL Variable Insurance Company brought this action to rescind a $10 million life-insurance policy after it discovered the policy application grossly misrepresented the insured's finances. Following a bench trial, the district court1 granted rescission. Midas Life Settlements LLC now appeals....

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