AASI Trust Sues MetLife Over Ex-CEO's Life Insurance

Law360, New York (July 6, 2009, 12:00 AM EDT) -- The liquidating trust for bankrupt All American Semiconductor Inc. has lodged a suit against MetLife Insurance Co. of Connecticut claiming that the insurer failed to provide the estate with the cash value of a life insurance policy taken out on the company's former CEO.

AASI Creditor Liquidating Trust, the successor to the estate, filed the suit against the insurance company on Thursday in the U.S. Bankruptcy Court for the Southern District of Florida.

The suit alleges that the insurer failed to cough up the value of...
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