M Resorts v. New England Life Insurance Company

I. BACKGROUND

25 On July 8, 2019, Plaintiff M Resorts, Ltd., (“M Resorts”) initiated this action by filing 26 a Complaint in the Superior Court for the State of California, County of San Diego, against 27 Defendants New England Life Insurance Company a.k.a. New England Variable Life 28 Insurance Company (“New England Life”), Brighthouse Life Insurance Company (“Brighthouse”), MetLife Auto & Home Insurance Agency, Inc. (“MetLife”), and New England Financial.1 (ECF No. 1-2). In the Complaint, M Resorts alleges that it purchased a $5,000,000 life insurance policy from New England Life on the life of “key member” Richard V. Gibbons, effective April 27, 2000. (Id. ¶¶ 8-9). M Resorts alleges that in February 2019, it received a Notice of Lapse from Defendants stating that the policy had been terminated “due to insufficient cash value required to purchase an additional month’s cost of insurance due on November 27, 2018.” (Id. ¶ 13). M Resorts alleges that the Notice of Lapse stated the policy could be reinstated if M Resorts made a premium payment of $33,943.88 and submitted additional forms. M Resorts alleges that it made the…