INT'L FID. INS. CO. v. PEROSI BROS., INC.


213 A.D.2d 765 (1995)

623 N.Y.S.2d 368

International Fidelity Insurance Company, Respondent, v. Perosi Brothers, Inc., Defendant and Third-Party Plaintiff-Respondent, and Perosi Electrical Corporation et al., Respondents. Facilities Development Corporation, Third-Party Defendant-Appellant

Appellate Division of the Supreme Court of the State of New York, Third Department.

March 2, 1995


Casey, J.

Plaintiff issued certain payment and performance bonds to secure the obligations of defendant Perosi Brothers, Inc. as the contractor on a construction project for third-party defendant, Facilities Development Corporation (hereinafter FDC). After Perosi Brothers defaulted on its contract with FDC, plaintiff paid on its bonds and the project was completed. Plaintiff thereafter commenced this action to recover the amount it had been compelled...

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