Fishkin Lucks prevailed today before the United States District Court for the Southern District of New York (Radkoff, J.). The Court granted the Firm’s motion to dismiss a plaintiff Trust’s action seeking judgment declaring its rights under a certain stranger owned life insurance (“STOLI”) policy, holding that plaintiff’s complaint was barred under the abstention doctrine given an earlier filed action brought in New Jersey State Court to rescind the STOLI policy. In so holding, the Court agreed with the Firm’s argument that “as master of its complaint and the entity whose rights have been placed at risk by Defendants’ (including the Trust’s) fraudulent scheme perpetrated in New Jersey,” our client was entitled to pursue relief in New Jersey and invoke the protections afforded by New Jersey law under the circumstances.”
