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</o:shapelayout></xml><![endif]--></head><body lang=EN-US link=blue vlink=purple><div class=WordSection1><p class=MsoNormal><span style='color:#1F497D'>I do not hold myself out as knowing the first thing about bankruptcy. That said, I do not have any support for the notion that a bond holder is a secured creditor against a bonding company in bankruptcy (and I would think that the very need to consider the creditworthiness of the bond indicates the bond would not put the holder in a position of preference over any other creditors of the Surety). However, I am familiar with a line of Florida cases that specifically discuss whether bonds are insurance and conclude that they are not. If I recall correctly, the cases were related to attempts to assert bad faith claims against surety companies. The opinions actually allowed bad faith claims but specifically determined bonds were not insurance. Subsequently the legislature amended the bad faith statute to remove sureties from the equation, essentially rendering the line of cases old news, but they could be helpful to you if you were looking for something that was intended to show the difference between bonding and insurance.<o:p></o:p></span></p><p class=MsoNormal><span style='color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><span style='color:#1F497D'>Sincerely,<o:p></o:p></span></p><p class=MsoNormal><span style='color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><span style='color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><span style='color:#17365D'>John J. Thresher, Esq.<o:p></o:p></span></p><p class=MsoNormal><span style='color:#1F497D'>Board Certified Construction Attorney<o:p></o:p></span></p><p class=MsoNormal><span style='color:#1F497D'><img width=148 height=91 id="Picture_x0020_2" src="cid:image002.jpg@01CDA156.D70C9D80" alt="ThresherAndThresher_Logo_final"><o:p></o:p></span></p><p class=MsoNormal><span style='color:#1F497D'>400 North Tampa St.<br>Ste. 1320<br>Tampa, FL 33602<o:p></o:p></span></p><p class=MsoNormal><span style='color:#1F497D'>(813) 229-7744<br>(813) 228-0367 (Fax)<o:p></o:p></span></p><p class=MsoNormal><span style='color:#1F497D'><a href="http://www.ThresherPA.com">http://www.ThresherPA.com</a><o:p></o:p></span></p><p class=MsoNormal><span style='color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><span style='color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><span style='color:#1F497D'><o:p> </o:p></span></p><div><div style='border:none;border-top:solid #B5C4DF 1.0pt;padding:3.0pt 0in 0in 0in'><p class=MsoNormal><b><span style='font-size:10.0pt;font-family:"Tahoma","sans-serif"'>From:</span></b><span style='font-size:10.0pt;font-family:"Tahoma","sans-serif"'> clc-discussion-bounces@lists.flabarrpptl.org [mailto:clc-discussion-bounces@lists.flabarrpptl.org] <b>On Behalf Of </b>Blaik Ross<br><b>Sent:</b> Wednesday, October 03, 2012 9:13 AM<br><b>To:</b> Weintraub, Lee; peter@robertsonfirm.com; clc-discussion@lists.flabarrpptl.org<br><b>Subject:</b> Re: [CLC-Discussion] Secured creditor<o:p></o:p></span></p></div></div><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:navy'>How about a bond holder? I am making a performance bond claim against a surety in liquidation for money damages and they ask on their proof of claim form if I am a secured creditor. I answered yes and attached the bond as the security agreement, but received a letter from their attorney saying a bond is not a security agreement but an “insurance policy”, therefore my claim is unsecured. They cited no authority for the statement. They said I will have an opportunity later to object to that classification if I feel otherwise. Anyone know the answer?<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:navy'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:navy'>Thanks!<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:navy'><o:p> </o:p></span></p><p> <o:p></o:p></p><table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width=400 style='width:300.0pt'><tr><td style='padding:3.75pt 3.75pt 3.75pt 3.75pt'><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman","serif"'><img border=0 width=115 height=155 id="_x0000_i1025" src="cid:image001.jpg@01CDA156.7445E710"><o:p></o:p></span></p></td><td style='padding:3.75pt 3.75pt 3.75pt 3.75pt'><p style='line-height:18.0pt'><strong><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>Capability Integrity and Value.</span></strong><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'><br>We look forward to providing our clients with many more years of delivering the highest quality buildings in our community.<br><a href="http://www.beauchampco.com">http://www.beauchampco.com</a></span><o:p></o:p></p></td></tr></table><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman","serif"'><o:p> </o:p></span></p><div><div class=MsoNormal align=center style='text-align:center'><span style='font-size:12.0pt;font-family:"Times New Roman","serif"'><hr size=2 width="100%" align=center></span></div><p class=MsoNormal><b><span style='font-size:10.0pt;font-family:"Tahoma","sans-serif"'>From:</span></b><span style='font-size:10.0pt;font-family:"Tahoma","sans-serif"'> <a href="mailto:clc-discussion-bounces@lists.flabarrpptl.org">clc-discussion-bounces@lists.flabarrpptl.org</a> [<a href="mailto:clc-discussion-bounces@lists.flabarrpptl.org">mailto:clc-discussion-bounces@lists.flabarrpptl.org</a>] <b>On Behalf Of </b>Weintraub, Lee<br><b>Sent:</b> Wednesday, October 03, 2012 8:51 AM<br><b>To:</b> <a href="mailto:peter@robertsonfirm.com">peter@robertsonfirm.com</a>; <a href="mailto:clc-discussion@lists.flabarrpptl.org">clc-discussion@lists.flabarrpptl.org</a><br><b>Subject:</b> Re: [CLC-Discussion] Secured creditor</span><span style='font-size:12.0pt;font-family:"Times New Roman","serif"'><o:p></o:p></span></p></div><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:blue'>In bankruptcy cases, a lien holder is deemed a secured creditor even prior to judgment</span><span style='font-size:12.0pt;font-family:"Times New Roman","serif"'><o:p></o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman","serif"'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman","serif"'><o:p> </o:p></span></p><table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 style='border-collapse:collapse'><tr style='height:22.5pt'><td style='border:inset #003768 1.0pt;background:#E7DDBF;padding:3.75pt 3.75pt 3.75pt 3.75pt;height:22.5pt'><p align=center style='text-align:center'><img border=0 width=120 height=35 id="_x0000_i1027" src="http://becker-poliakoff.us/graphics/logo_120.gif" alt="Becker & Poliakoff"><o:p></o:p></p></td><td style='border:inset #003768 1.0pt;border-left:none;background:#E7DDBF;padding:3.75pt 3.75pt 3.75pt 3.75pt;height:22.5pt'><p class=MsoNormal style='text-align:justify'><b><span style='font-size:10.0pt;font-family:"Verdana","sans-serif";color:#003768'>Lee A. Weintraub</span></b><span style='color:#003768'><br></span><span style='font-size:8.0pt;font-family:"Verdana","sans-serif";color:#003768'>Board Certified Construction Lawyer</span><o:p></o:p></p></td></tr><tr><td width=100 style='width:75.0pt;border:inset #003768 1.0pt;border-top:none;padding:3.75pt 3.75pt 3.75pt 3.75pt'><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman","serif"'><o:p> </o:p></span></p></td><td valign=top style='border-top:none;border-left:none;border-bottom:inset #003768 1.0pt;border-right:inset #003768 1.0pt;padding:3.75pt 3.75pt 3.75pt 3.75pt'><p class=MsoNormal><span style='font-size:8.0pt;font-family:"Verdana","sans-serif"'>Emerald Lake Corporate Park<br>3111 Stirling Road<br>Fort Lauderdale, FL 33312-6525<br><br>954.985.4147 Phone<br>954.985.4176 Fax<br><br><a href="mailto:LWeintraub@becker-poliakoff.com">LWeintraub@becker-poliakoff.com</a><br><a href="http://www.becker-poliakoff.com">www.becker-poliakoff.com</a></span><span style='font-size:12.0pt;font-family:"Times New Roman","serif"'><o:p></o:p></span></p></td></tr></table><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman","serif"'><br></span><span style='font-size:10.0pt;font-family:"Verdana","sans-serif"'>Our clients' total satisfaction is our #1 priority. The Becker & Poliakoff <strong><span style='font-family:"Verdana","sans-serif"'>Client CARE Center </span></strong>is available for questions, concerns and suggestions. Please contact us at 954.364.6090 or via email at </span><span style='font-size:12.0pt;font-family:"Times New Roman","serif"'><a href="mailto:CARE@becker-poliakoff.com"><span style='font-size:10.0pt;font-family:"Verdana","sans-serif"'>CARE@becker-poliakoff.com</span></a></span><span style='font-size:10.0pt;font-family:"Verdana","sans-serif"'>. </span><span style='font-size:12.0pt;font-family:"Times New Roman","serif"'><o:p></o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman","serif"'><br><a href="http://www.floridaconstructionlawauthority.com/"><strong><span style='font-size:10.0pt;font-family:"Verdana","sans-serif"'>Click here</span></strong></a></span><span style='font-size:10.0pt;font-family:"Verdana","sans-serif"'> to subscribe to our complimentary Florida Construction Law Blog. </span><span style='font-size:12.0pt;font-family:"Times New Roman","serif"'><o:p></o:p></span></p><div class=MsoNormal align=center style='text-align:center'><span style='font-size:12.0pt;font-family:"Times New Roman","serif"'><hr size=2 width="100%" align=center></span></div><p class=MsoNormal style='margin-bottom:12.0pt'><b><span style='font-size:10.0pt;font-family:"Tahoma","sans-serif"'>From:</span></b><span style='font-size:10.0pt;font-family:"Tahoma","sans-serif"'> <a href="mailto:clc-discussion-bounces@lists.flabarrpptl.org">clc-discussion-bounces@lists.flabarrpptl.org</a> [<a href="mailto:clc-discussion-bounces@lists.flabarrpptl.org">mailto:clc-discussion-bounces@lists.flabarrpptl.org</a>] <b>On Behalf Of </b><a href="mailto:peter@robertsonfirm.com">peter@robertsonfirm.com</a><br><b>Sent:</b> Wednesday, October 03, 2012 8:24 AM<br><b>To:</b> <a href="mailto:clc-discussion@lists.flabarrpptl.org">clc-discussion@lists.flabarrpptl.org</a><br><b>Subject:</b> [CLC-Discussion] Secured creditor</span><span style='font-size:12.0pt;font-family:"Times New Roman","serif"'><o:p></o:p></span></p><p class=MsoNormal>I have a question about secured creditors. Is a construction lien holder a secured creditor? I don’t think so until there is a judgment, but can’t find a statutory or case law basis. I appreciate any help.<o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>Peter A. Robertson<o:p></o:p></p><p class=MsoNormal>Board Certified Construction Law<o:p></o:p></p><p class=MsoNormal>Board Certified Civil Trial<o:p></o:p></p><p class=MsoNormal>The Robertson Firm<o:p></o:p></p><p class=MsoNormal>5547 A1A South<o:p></o:p></p><p class=MsoNormal>Suite 108<o:p></o:p></p><p class=MsoNormal>St. Augustine, FL 32080<o:p></o:p></p><p class=MsoNormal>T (904)853-2612<o:p></o:p></p><p class=MsoNormal>F (904)853-2613<o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p></div></body></html>