Defruscio v. Superior Industries, Inc., 99-1652 (2000)

DECISION

Before the Court is a dispute over certain proceeds under life insurance policies issued on June 12, 1987 to Superior Industries, Inc. ("Superior") on the life of Frederick Dark. The heirs and/or the Estate of Frederick Dark ("Dark's Estate") have made claim against said proceeds.

The receiver of Superior and the plaintiffs have objected.

Facts and Travel

Superior was incorporated in Rhode Island on April 1, 1985. Its original shareholders, Frederick Dark ("Dark") and Frank DeFruscio ("DeFruscio"), each owned 50% of the issued and outstanding capital stock of the corporation. Dark was…