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CENTRAL SURETY & INS. CORPORATION v. BAGLEY

44 F.2d 808 (1930)

CENTRAL SURETY & INS. CORPORATION et al. v. BAGLEY et al.

District Court, S. D. California, Central Division.

November 1, 1930.

Attorney(s) appearing for the Case

Haight, Mathes & Sheppard and Joe Crider, Jr., all of Los Angeles, Cal., for complainants.

Harry A. Goldman, of Los Angeles, Cal., for petitioners.

HAZEL, District Judge.1

Upon carefully reading the bill, I have become satisfied that complainants were not mere contract creditors, as claimed by the objecting defendants. The gravamen of the bill arises from complainants' liability under a surety bond, a so-called lender's bond, by which complainants obligated themselves to advance $100,000, to construct and complete the apartment building and garages erected by the principals who are...

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