Foley v. Equitable Life Assurance Society of United States

Plaintiff, as assignee of a receiver in supplementary proceedings, sued defendant to recover the cash surrender value of twenty-four separate lapsed policies of insurance on the life of her judgment debtor. Each policy named the insured’s estate as beneficiary and was convertible into a paid-up life annuity. Defendant disputed the title of the receiver to the policies and, hence, that of the plaintiff. By orders in the supplementary proceeding, to which defendant was a party, and in this action, it was adjudged that the receiver, and through him the plaintiff, acquired all the right, title…