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PHL VARIABLE INS. v. 2008 CHRISTA JOSEPH

Case No. 10-CV-3001 (PJS/TNL).

970 F.Supp.2d 932 (2013)

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

United States District Court, D. Minnesota.

September 10, 2013.

Attorney(s) appearing for the Case

Thomas F.A. Hetherington , David T. McDowell , and Jarrett E. Ganer , Edison, McDowell & Hetherington LLP, for Plaintiff.

William A. Molinski , Khai Lequang , Philipp Smaylovsky , and Silvia A. Babikian , Orrick, Herrington & Sutcliffe LLP; Thomas F. Nelson , Leonard, Street and Deinard, P.A., for Intervenor-Defendant.

FINDINGS OF FACT, CONCLUSIONS OF LAW, AND ORDER FOR JUDGMENT

PATRICK J. SCHILTZ, District Judge.

Plaintiff PHL Variable Insurance Company ("PHL") filed this lawsuit against the 2008 Christa Joseph Irrevocable Trust ("the Trust"), seeking to rescind a $10 million life-insurance policy on the basis of fraud and lack of insurable interest. (A policy that is allegedly void for lack of insurable interest is sometimes...

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