PRUCO LIFE INS. CO. v. WELLS FARGO BANK, N.A.

Nos. 13-12135, No. 13-15859.

846 F.3d 1188 (2017)

PRUCO LIFE INSURANCE COMPANY, Plaintiff/Counter-Defendant/Appellee, v. WELLS FARGO BANK, N.A., as Securities Intermediary, Defendant/Counter-Claimant/Appellant. Pruco Life Insurance Company, Plaintiff/Appellant, v. U.S. Bank, N.A., as Securities Intermediary, Defendant/Appellee.

United States Court of Appeals, Eleventh Circuit.

January 25, 2017.


Attorney(s) appearing for the Case

Nolan B. Tully , Stephen Alan Serfass , Drinker Biddle & Reath, LLP, Philadelphia, PA, Wendy L. Furman , Pett Furman, PL, Boca Raton, FL, for Pruco Life Insurance Company (Case Nos. 13-12135, 13-15859).

Stephen C. Baker , Michael D. Rafalko , Drinker Biddle & Reath, LLP, Philadelphia, PA, Kristina B. Pett , Pett Furman, PL, Boca Raton, FL, for Pruco Life Insurance Company (Case No. 13-12135).

Raoul G. Cantero , White & Case, LLP, Juan J. Farach , John Kressfield Shubin , Shubin & Bass, PA, Miami, FL, Maria Josefa Beguiristain , Leon Cosgrove, LLC, Coral Gables, FL, for Defendant-Appellant (Case No. 13-12135), Defendant-Appellee US Bank, as Securities Intermediary (Case No. 13-15859).

Charles G. Geitner , Hinshaw & Culbertson, LLP, Tampa, FL, for Defendants-Appellees Gary A. Richardson , Life Brokerage Equity Group, LLC (Case No. 13-15859).

Lawrence Gordon Horsburgh , Leon Cosgrove , LLC, Coral Gables, FL, for Defendant-Appellee US Bank, as Securities Intermediary (Case No. 13-15859).

Before TJOFLAT and JULIE CARNES, Circuit Judges, and DUBOSE, District Judge.


These consolidated appeals require us to determine the validity of two individuals' Stranger-Originated Life Insurance ("STOLI") policies that the issuing insurance company sought to have invalidated several years after their issuance. Arguing that the policies were invalid, the insurance company relied on a Florida statute that requires a...

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