[CLC-Discussion] question re: surety in liquidation

[Michelle Kane]

I am sure you can file a claim but it would be subject to the priroties of claims as laid out in that state's statute, similar to Florida Statute 631.271

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From: clc-discussion-bounces at lists.flabarrpptl.org on behalf of Roberts, Hardy L.
Sent: Fri 5/18/2012 1:08 PM
To: Andrea Fair; clc-discussion at lists.flabarrpptl.org
Subject: Re: [CLC-Discussion] question re: surety in liquidation



When I encountered this issue in the past I filed a claim with the state bureau that was liquidating the surety.  They typically have a claims bar date much like a bankruptcy proceeding.  It took more than five years, but the claim ultimately was allowed and there was a substantial payout.

 

From: clc-discussion-bounces at lists.flabarrpptl.org [mailto:clc-discussion-bounces at lists.flabarrpptl.org] On Behalf Of Andrea Fair
Sent: Friday, May 18, 2012 12:42 PM
To: clc-discussion at lists.flabarrpptl.org
Subject: [CLC-Discussion] question re: surety in liquidation

 

I have a client with potential bond claims against First Sealord Surety, Inc., which is in liquidation.  My client does work in many states and their TX attorney told them that they could not file suit against this surety due to the liquidation process (like the automatic stay in bankruptcy) and they have just let some bond claims go by the wayside because of this advice.  I question whether that was good advice.  The deadline is coming up next week on a potential bond claim and I thought I would just file suit and not serve the surety until I get an answer on this issue.  If any of you know the answer and can let me know ASAP, I would greatly appreciate it.  Bottom line: Can I file suit against First Sealord?  If no, what should I do instead to pursue the bond claim?  Of course, I still intend to pursue the GC but I don't know how the liquidation affects my client's bond claims.  Thank you in advance for all of the feedback!  I think the way this group discusses issues and shares information is truly amazing and so helpful.  

 

Thx-Andrea

 

 

Andrea M. Fair-Purcell

Board Certified Construction Attorney

????????????   

FAIR*LAW*PLLC    

????????????   

13046 Racetrack Road #236 

Tampa, FL 33626                    
(813) 412-1077 phone 

(877) 879-4990 fax                 
www.fairconstructionliens.com <http://www.fairconstructionliens.com/> 

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