Jackson National Life Insurance Company v. Ifshin
- Nelson Roman
- 7:20-cv-06930
- U.S. District Court · Southern District of New York
- 152
In Jackson National v. Ifshin, Judge Roman granted interpleader relief in part, ordering deposit of the annuity proceeds and dismissing Jackson National from the case.
Jackson National Life Insurance Company was allowed to deposit the annuity proceeds, dismissed from the action, and discharged from further liability subject to the order’s stated condition. Ellen A. Ifshin and Gregory T. Bond remain subject to the injunction against duplicative actions, while their entitlement to the proceeds was not decided.
What happened
Jackson National Life Insurance Company filed an interpleader action because Ellen A. Ifshin and Gregory T. Bond made competing claims to death benefits from an annuity. Jackson National said it could not determine who was entitled to the proceeds without risking additional liability.
The court allowed Jackson National to deposit $15,297.56 into the court registry, barred the defendants from bringing duplicative actions concerning the proceeds, dismissed Jackson National from the case, and discharged it from further liability concerning the annuity and proceeds, subject to the condition stated in the order. The court did not award attorney’s fees at this stage but allowed Jackson National to file a separate fee motion. The court also denied as moot Jackson National’s request for a pre-motion conference.
Judge Nelson S. Roman granted the deposit motion in part and directed the Clerk to place the money in an interest-bearing court account. The order did not decide whether Ifshin or Bond was entitled to the annuity proceeds.
The detailed version
- Jackson National Life Insurance Company v. Ifshin · No. 7:20-cv-06930
- Nelson Roman
- Nov. 10, 2020
Background
Jackson National brought a statutory interpleader action under 28 U.S.C. § 1335 concerning a flexible-premium deferred annuity issued to Focus 2000, with Philip G. Bond as the annuitant. The annuity identified Ellen A. Ifshin, formerly Ellen A. Bond, as the primary beneficiary and Gregory T. Bond as the contingent beneficiary. After Philip G. Bond’s death, both Ifshin and Gregory T. Bond asserted competing claims to the death benefit.
Jackson National stated that the proceeds were valued at $15,297.56 as of August 12, 2020. It said it had no interest in the proceeds other than obtaining a discharge of its obligations and could not determine the validity of the competing claims without risking additional liability. Gregory T. Bond consented to the deposit motion, except for the request for attorney’s fees, while Jackson National reported that it could not reach Ifshin.
Motion and Rulings
Jackson National asked the court to permit it to deposit the annuity proceeds into the court registry, restrain duplicative lawsuits, discharge it from further liability, dismiss it from the action, and award attorney’s fees and costs. The court waived the requirement for a pre-motion conference and treated the deposit motion as fully briefed.
The court granted in part Jackson National’s deposit motion. It ordered that:
- Jackson National may deposit the annuity proceeds into the court registry. - The defendants are enjoined from instituting or prosecuting any duplicative action affecting the annuity proceeds. - Jackson National is dismissed from the action. - Jackson National is discharged from further liability concerning the annuity and proceeds, absent a showing of good cause by the defendants explaining why they did not timely oppose the motion.
The court directed Jackson National to deposit $15,297.56 with the Clerk, who was directed to place the money in an interest-bearing court account. The order did not determine which claimant was entitled to the money.
Attorney’s Fees and Other Procedure
The court did not award attorney’s fees or costs in this order. Instead, it granted Jackson National leave to file a separate fee motion and established dates for serving the moving papers, opposition, and reply. Jackson National’s motion requesting a pre-motion conference was denied as moot. The Clerk was directed to terminate the motions listed at ECF Nos. 6, 13, and 18.
Effect of the Order
The order protects Jackson National from competing claims concerning the annuity while leaving the proceeds in the court’s custody. The opinion does not resolve whether Ellen A. Ifshin or Gregory T. Bond is the proper beneficiary, and it does not resolve Jackson National’s request for attorney’s fees and costs.
Read the full 152-page opinion on CourtListener, the free public archive maintained by the Free Law Project.