Midas Intervenes In $20M Wells Fargo Life Insurance Row

Law360, New York (June 8, 2011, 3:01 PM EDT) -- An Oklahoma federal judge on Tuesday allowed Midas Life Settlements LLC to intervene in Wells Fargo Bank NA's suit against the Lincoln National Life Insurance Co. over its rescission of two life insurance policies worth $20 million.

U.S. District Judge Terence Kern also denied without prejudice Wells Fargo's bid for partial summary judgment on its breach of contract claim against Lincoln, which argued that it didn't have a reasonable amount of time to complete discovery and otherwise develop an opposition to the motion.

Lincoln issued the...
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