Wilmington Trust National Association v. Sun Life Assurance Company of Canada

Summary

The Court held that Wilmington Trust could not recover the death benefits under policies properly determined to be void ab initio STOLI policies, whether through promissory estoppel or equitable defenses, because doing so would enforce illegal human-life wagers. It reversed the Superior Court's automatic premium-return ruling and remanded for a fact-intensive, fault-based analysis of whether and to what extent premiums should be restored. The Court also held that prejudgment interest may be awarded if Wilmington Trust proves entitlement to restitution, generally beginning when Wilmington Trust demanded a refund.