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Tampa after he had been hospitalized. Ms. Livingston subse-
quently sold that watch.
At a time not disclosed by the record after the initial
transfer by Mr. Kayian, Sr. to Mr. Kayian, Jr., Mr. Kayian, Jr.
contacted the issuer of the Aruba bonds about liquidating them.
However, that issuer declined to do so at that time. Instead, it
made monthly payments to Mr. Kayian, Jr. with respect to the
Aruba bonds over approximately five to seven months until those
bonds were paid in full.
On October 21, 1993, Jackson National and Continental filed
an interpleader action (interpleader action) in the U.S. District
Court for the Middle District of Florida, Tampa Division (U.S.
District Court), to determine the person or persons entitled to
the proceeds of the Jackson National annuity contract, the
Continental annuity contract, and the Continental group life
insurance policy. In September 1995, in a joint stipulation for
entry of judgment and dismissal with respect to the interpleader
action (settlement stipulation), Ms. Livingston, individually and
as personal representative of Mr. Kayian, Sr.'s estate, withdrew
all claims against Mr. Kayian, Jr. and Mr. Kayian, Sr.'s three
grandchildren regarding those contracts. In an order dated
September 13, 1995, the U.S. District Court directed release of
the interpled funds and ratified the settlement stipulation.
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