11th Circ. Rejects Berkshire offer to chop $ 4 million insurance premium

Law360 (May 28, 2021, 4:56 p.m. EDT) – On Thursday, the Eleventh Circuit agreed with a Florida federal court that a Sunshine State woman’s life insurance policy had been purchased illegally, although the court Appeal has also stayed the appeal of Berkshire Hathaway’s decision that he owes $ 4 million until the Delaware Supreme Court answers several questions.

Berkshire Hathaway Life Insurance Co. of Nebraska and co-accused Wells Fargo Bank NA, which served as a financial intermediary when the insurer acquired the policy as part of a portfolio of 125 policies, had sought to overturn a ruling summary judgment that they were to pay $ 4 million to the estate of the first policy holder, Phyllis M. Malkin, who …

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