Trust Didn't Pay Premiums Under $350M Pact, Suit Says

Law360, New York (November 1, 2011, 4:24 PM EDT) -- A religious organization sued a West Indies-based trust in New York federal court Friday, claiming the trust has failed to pay premiums on death benefits totaling more than $350 million under a life insurance policy purchase agreement.

Kolel Beth Yechiel Mechil of Tartikov Inc. is asking U.S. District Judge Victor Marrero to force YLL Irrevocable Trust to fork over the amount it owes under the agreement. The organization also wants the judge to order co-defendant Wilmington Savings Fund Society FSB, which is holding the insurance policies...
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