8th Circ. Overturns Surety’s Win In Luxury Apt. Bond Dispute – Law360

Dry Wall Contractor

By Hope Patti (July 22, 2022, 4:40 PM EDT) — The Eighth Circuit on Friday reversed a summary judgment win for a surety in a coverage dispute with subcontractors stemming from compensation for a construction project, finding that a payment bond permits recovery for not only labor and material but also attorney fees and other costs.

A bond that Fidelity and Deposit Co. of Maryland issued to a general contractor obligates the surety to pay for costs, attorney fees and interest awarded to Stark Truss Co. and Lindberg Waterproofing, which assigned its rights to Owners Insurance Co., a three-judge panel held.

“The bond here obligates F&D to pay not only for…

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Source: https://www.law360.com/articles/1514284/8th-circ-overturns-surety-s-win-in-luxury-apt-bond-dispute

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