Silverman v. Levy

The question presented in this case is whether plaintiff, as receiver in supplementary proceedings of defendant Morris Levy, is entitled to the proceeds of a paid-up insurance policy as against the defendant Rachel Levy, its beneficiary.

Central Savings Bank became mortgagee on June 28, 1926, for a loan made to defendant Morris Levy. He defaulted in his payments and a deficiency judgment was taken against him by the bank on January 13, 1933. Proceedings supplementary to execution were begun by the mortgagee and plaintiff was appointed receiver on May 13, 1947, and was given leave to bring this…