NY Court Hands Life Settlement Industry a Win
|Copyright:||(c) 2011 A.M. Best Company, Inc.|
|Source:||A.M. Best Company, Inc.|
Wooten disagreed, finding
"The marketability of the plaintiff's property, the subject life insurance policy, has been destroyed by [
Rousseau, who has handled lawsuits against
Wooten wrote, "[
Rousseau said the decision is the latest example that the litigation landscape is shifting in favor of the life settlement industry. "Many recent court cases show that courts are coming to agree with the decision that the knee-jerk reaction of the carriers was wrong -- that it is perfectly legal for investors to buy these policies."
Last year, the
Despite those complaints, courts in other states are also coming down in favor of the life settlement industry.