SAMARON CORP. v. UNITED OF OMAHA LIFE INS. CO.

No. 15-3446.

822 F.3d 361 (2016)

SAMARON CORP., doing business as Troyer Products, Plaintiff-Appellant, v. UNITED OF OMAHA LIFE INSURANCE COMPANY, Defendant-Appellee.

United States Court of Appeals, Seventh Circuit.

Decided May 17, 2016.


Attorney(s) appearing for the Case

Mark F. Criniti , Paul E. Harold , Stephen M. Judge , Ladue, Curran & Kuehn LLC, South Bend, IN, for Plaintiff-Appellant.

Brian S. Jones , Curtis T. Jones , Bose McKinney & Evans, LLP, Indianapolis, IN, for Defendant-Appellee.

Before POSNER, EASTERBROOK, and WILLIAMS, Circuit Judges.


In 2003 Troyer Products (formally Samaron Corp.), a closely held corporation, purchased a policy of insurance on the life of Ron Clark, then its President. Dave Buck, its COO, was the beneficiary. Clark, who approved the transaction, thought that the death benefit of $1 million would enable Buck to buy out his stock,...

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