American Casualty Co. v. M. S. L. Industries, Inc.

CASTLE, Chief Judge.

This appeal arises from an interpleader action brought by American Casualty Company to determine the beneficiaries of a $50,000 life insurance policy issued to appellant, MSL Industries, on the life of Elmer E. Stanley, a plant manager of MSL’s Howard Industries Division. The executor of Mr. Stanley’s estate, the First National Bank of Kenosha, Wisconsin, claimed all the proceeds, and MSL claimed half the proceeds. The district court, in an opinion reported at 283 F.Supp. 757 (E.D.Wis.1968), awarded all of the proceeds of the policy to the estate.

MSL paid the premium on…