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    Insurance (Surety)

 

  • Procurement, management and claims resolution for all bond types, such as appeals, bail, bid, common law, construction, custodian, custom, dealer, indemnity, license, lost instrument, mechanics’ lien discharge, payment, performance, permit, probate, public officials, reclamation, release, subdivision, suety, warehouse, workers’ compensation.

 

  • Negotiation and drafting of affirmative claims, defenses, liquidating and security agreements, and takeover agreements.

 

  • Drafting, negotiation and management of various surety-related documents, such as bond templates, agreements (capital retention, confidentiality, consent, co-surety, collateral, escrow, indemnity, intercreditor, liquidating, non-disclosure, release, security, standstill, subordination, subrogation, surety, takeover, termination, trust, waiver), guarantees (such as parent).

 

  • Very successful collections of contract balances and pursuing claims under all types of surety bonds.

 

  • Evaluation and resolution of surety-related matters from the claims stage through mediation and arbitration.

 

  • Subrogation and indemnity efforts focused on reclaiming all possible amounts for the client, whether through contractual indemnification rights, subrogation or managed salvage efforts.

 

  • Experience with subrogation and litigation for recovery of residual obligations, such as litigation involving construction trust fund claims, exoneration and indemnification, recovery of the contract retainage or balance.

 

  • Experience with contractual claims involving inadequate investigation, unfair or improper claims handling, unfair settlement practices or failure to settle, unreasonable failure to defend or indemnify.

 

  • Experience with extra-contractual claims involving breach of fiduciary duty, conspiracy, fraud and misrepresentation, improper supervision of contractors, loss control and risk management services, violations of insurance regulations.

 

  • Experience with the contractor’s failure to complete bonded obligations, arising from disputes with the owner/obligee, design/engineering issues, unforeseen/changed conditions, subcontractor performance issues.

 

  • Experience with mitigating a contractor’s default and termination such as financing the contractor, taking over and completing the contractor’s bonded obligations, standstill agreements, tendering a new contractor to complete the bonded obligations, consenting to the owner/obligee’s completion of the bonded obligations, pursuing a settlement or “buy back” of the bond, denying the claim at issue, or enforcement of the owner/obligee’s contractual and common law rights against the contractor and any indemnitors.

 

  • Experience mitigating contractor’s mid-project bankruptcy, including assumption and completion of bonded obligations, dispute over the ownership of unpaid proceeds on the bonded contract, pre-petition and post-petition negotiations of reorganization plans.

 

  • Surety-related arbitration, dispute resolution and litigation under the Miller Act or little Miller Act, such as bond claims against sureties, sureties’ claims against the contractor and indemnitors, sureties’ pursuit of bonded contract proceeds from owners/obligees, creditors, bankruptcy trustees, and other third parties, and sureties’ pursuit of affirmative claims against owners/obligees, architect/engineers, accountants, and other third parties, owner’s release of contract funds without the surety's consent.

 

  • Utilization and interpretation of data (such as payments, notices, legal documents, administrative communications and various imaged documents) from mortgage loan servicing databases such as Asset-Backed Securities (ABS), CoreLogic, Mortgage-Backed Securities (MBS) and Mortgage Electronic Registration System (MERS).

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    Last updated 200722_2212

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