Minnesota Life Insurance Company v. Wilmington Trust Company et al (TV1)

Filing 82

ORDER: The Court ACCEPTS IN WHOLE the R&R 81 . The Court hereby GRANTS IN PART and DENIES IN PART Minnesota Life Insurance Companys Motion for Interpleader Relief as to Defendants J. Randall Hooper and Richard J. Gettelfinger, Co- Executors of the Estate of Herman Edward Gettelfinger [Doc. 54]. Accordingly, the Court hereby GRANTS the Motion for Disbursement of Funds Pursuant to Fed. R. Civ. P. 67(b) 56 . The Motion to Enforce Settlement Agreement 72 is hereby DENIED as MOO T. The Clerk of Court is AUTHORIZED and DIRECTED to disburse the funds as follows: SmartBank in the amount of $175,000.00 representing the policy proceeds on Policy No. 2-350-013N; and Fund House FCP-SIF-International Life Settlements Fund in th e amount of $2,825,000.00 and all interest accrued on the policy proceeds, representing the balance of the policy proceeds from Policy No. 2-350-013N and 2-348-015N. Said proceeds shall be distributed in care of Locke Lord, LLP. The Clerk of Court is DIRECTED toCLOSE this case. Signed by Chief District Judge Thomas A Varlan on 8/10/16. (ABF)

UNITED STATES DISTRICT COURT
EASTERN DISTRICT OF TENNESSEE
MINNESOTA LIFE
INSURANCE COMPANY,
Plaintiff,
v.
WILMINGTON TRUST COMPANY, as
Securities Intermediary;
FUND HOUSE FCP-SIF-INTERNATIONAL
LIFE SETTLEMENTS FUND;
GENESIS MERCHANT PARTNERS, LP;
SMARTBANK; and J. RANDALL HOOPER
and RICHARD J. GETTELFINGER,
Co-Executors of the Estate of
HERMAN GETTELFINGER,
Defendants.

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No.: 3:14-CV-443-TAV-CCS

ORDER
This civil matter is before the Court on the Report and Recommendation entered by
United States Magistrate C. Clifford Shirley, Jr., on July 22, 2016 (the “R&R”) [Doc. 81]. In
the R&R, Magistrate Judge Shirley recommends that plaintiff’s motion for interpleader relief
[Doc. 54] be granted in part and denied in part; the Motion for Disbursement of Funds
Pursuant to Fed. R. Civ. P. 67(b) [Doc. 56] be granted; and the Motion to Enforce Settlement
Agreement [Doc. 72] be denied as moot. There have been no timely objections to the R&R,
and enough time has passed since the filing of the R&R to treat any objections as having
been waived. See 28 U.S.C. § 636(b)(1); Fed. R. Civ. P. 72.
After a careful review of the matter, the Court is in agreement with Magistrate Judge
Shirley’s recommendations, which the Court adopts and incorporates into its ruling.

Accordingly, the Court ACCEPTS IN WHOLE the R&R [Doc. 81]. The Court hereby
GRANTS IN PART and DENIES IN PART Minnesota Life Insurance Company’s Motion
for Interpleader Relief as to Defendants J. Randall Hooper and Richard J. Gettelfinger, CoExecutors of the Estate of Herman Edward Gettelfinger [Doc. 54]. Accordingly, the Court
hereby GRANTS the Motion for Disbursement of Funds Pursuant to Fed. R. Civ. P. 67(b)
[Doc. 56]. The Motion to Enforce Settlement Agreement [Doc. 72] is hereby DENIED as
MOOT.
The Clerk of Court is AUTHORIZED and DIRECTED to disburse the funds as
follows:
1.

SmartBank in the amount of $175,000.00 representing
the policy proceeds on Policy No. 2-350-013N; and

2.

Fund House FCP-SIF-International Life Settlements
Fund in the amount of $2,825,000.00 and all interest
accrued on the policy proceeds, representing the balance
of the policy proceeds from Policy No. 2-350-013N and
2-348-015N. Said proceeds shall be distributed in care
of Locke Lord, LLP.

There being no further matters before the Court, the Clerk of Court is DIRECTED to
CLOSE this case.
IT IS SO ORDERED.

s/ Thomas A. Varlan
CHIEF UNITED STATES DISTRICT JUDGE
ENTERED AS A JUDGMENT
s/ Debra C. Poplin
CLERK OF COURT
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