Current Cases
Mr. Malesovas is working on a number of commercial cases, some of which are described below:
- Business Disputes: Mr. Malesovas has represented numerous business owners in various disputes, including partnership disputes, disputes with vendors, professional negligence, and a host of other business-related disputes. Mr. Malesovas’ financial background assists him understanding the economic aspects of most business disputes and advising clients on creative ways to resolve these disputes so that they can get back to what they do best – running their business.
- Fraudulent Retirement Plans: Mr. Malesovas has pursued numerous cases against various insurance companies and their agents who used various purported benefit plans as a means of disguising the sale of life insurance. The Millennium Plan, the Benistar Plan, the Niche Plan and the PBT Plan are a few of the plans that are involved in these cases. Insurance companies have used these plans, known as 419 Plans, as well as other plans known as 412i Plans, as a means of selling substantial amounts of life insurance. Often though the consumer doesn't realize that all of their money is being used to purchase life insurance or that they really have no viable ability to access their money upon retirement. Our clients allege that they were told that these plans were wealth accumulation or savings and investment plans with favorable tax benefits, including the ability to deduct all contributions to the plan on their income tax returns. Our clients allege that the IRS has determined that these plans are fraudulent tax shelters and is disallowing all tax deductions and imposing thousands in penalties. Our clients have lost most if not all of their investment, which for many represented a substantial portion of their retirement savings.
- Wrongful Insurance Cancellation and Deceptive Trade Practices Cases: Sometimes life and health insurance companies will decide that they don't want to continue the coverage and will, therefore, concoct various schemes and arguments to justify their cancellation of the policies. Mr. Malesovas has successfully pursued cases against Provident American Life Insurance Company, Fortis Insurance Company and several others for the wrongful cancellation of policyholders' coverage. Mr. Malesovas has also successfully represented policyholders whose coverage was wrongfully converted to another policy, resulting in the loss of their accumulated cash value, as well as the loss of the higher benefits they had on their original policies. He has also handled numerous cases involving an insurance company’s wrongful denial of health, life, accident, disability and other similar benefits.