Appeals Court Sides With Insurer In Shareholder Dispute

March 4, 2020 by John Hilton

The Eighth Circuit Court of Appeals handed a big victory recently to Liberty Insurance Underwriters over the use of life insurance in a company stock dispute.

The case — Russell v. Liberty Insurance Underwriters, Inc. — involved three shareholders of a business who entered into stock agreements that provided for the company to purchase life insurance for each shareholder.

Paul Russell co-owned Cates Sheet Metal Industries, Inc. with Daniel and J. Carson Cates. Daniel Cates’ 2003 cancer diagnosis prompted the three shareholders to create a succession plan.

Click HERE to read the full story via INN

Originally Posted at InsuranceNewsNet on March 2, 2020 by John Hilton.