Hudson v. John Hancock Mutual Life Insurance

BLACKMUN, Circuit Judge.

This diversity suit, in the nature of interpleader, is a controversy over the disposition of approximately $185,000 in credits on the books of a mutual insur*17anee company which issued a contributory group annuity contract to an employer whose active business has now ceased. Jurisdiction is established. The opposing claimants to the credits are, on the one hand, the employer and, on the other, its former covered employees. The insurer, although it is the instigator of the litigation and a vitally interested participant, is essentially a stakeholder. By its suit the…