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WILMINGTON TRUST v. SUN LIFE ASSURANCE CO.

No. 126, 2022.

294 A.3d 1062 (2023)

WILMINGTON TRUST, NATIONAL ASSOCIATION, as Securities Intermediary, Defendants/Counterclaim Plaintiff Below, Appellant/Cross-Appellee, v. SUN LIFE ASSURANCE COMPANY OF CANADA, Plaintiff/Counterclaim Defendant Below, Appellee/Cross-Appellant.

Supreme Court of Delaware.

Decided: March 20, 2023.

Revised: March 21, 2023.

Attorney(s) appearing for the Case

Kevin G. Abrams, Esquire , John M. Seaman, Esquire , and Samuel D. Cordle, Esquire ABRAMS & BAYLISS LLP, Wilmington, Delaware; Harry S. Davis, Esquire (argued), and Robert E. Griffin, Esquire , SCHULTE ROTH & ZABEL LLP, New York, New York, for Appellant Wilmington Trust, National Association.

Gregory F. Fischer, Esquire , COZEN O'CONNOR, Wilmington, Delaware; Joseph M. Kelleher, Esquire , (argued) and Brian D. Burack, Esquire , COZEN O'CONNOR, Philadelphia, Pennsylvania, for Appellee Sun Life Assurance Company of Canada.

Before SEITZ, Chief Justice; VALIHURA and TRAYNOR, Justices.

In 2011, in an opinion now known simply as "Price Dawe,"1 this Court described the historical background against which a type of life insurance policy known as "stranger originated life insurance"—or "STOLI" for short—was developed. We need not rehearse that history here. It is...

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