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Tomisue Hilbert, wife of Indianapolis businessman Steve Hilbert, is working with a team of attorneys to determine whether her deceased mother's estate can claim the benefit of a $15 million life insurance policy issued by Houston-based American General Life Insurance Co.
On April 12, The Wall Street Journal published a story on its front page about the legal dispute over Germaine "Suzy" Tomlinson's policy. IBJ broke the story about Tomlinson - Tomisue Hilbert's mother - in January 2009. The civil lawsuit is set for a jury trial in October.
"The more we learn, the more concerns we have, and therefore we are continuing to investigate every angle of this situation," Tomisue Hilbert said in a written statement.
In the legal quarrel, AIG is attempting to invalidate a $15 million policy it issued in January 2006 insuring the life of Tomlinson, who died Sept. 28, 2008, at theage of 74. AIG alleges the policy was part of a stranger-originated life insurance, or STOLI scheme.
In a STOLI scheme, outside investors effectively...