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QUANTUM CORPORATE FUNDING, LTD. v. FIDELITY & DEPOSIT COMPANY OF MARYLAND

258 A.D.2d 376 (1999)

685 N.Y.S.2d 688

QUANTUM CORPORATE FUNDING, LTD., Appellant, v. FIDELITY & DEPOSIT COMPANY OF MARYLAND et al., Respondents.

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

Decided February 23, 1999.

Defendant Constantine D & B, Ltd. contracted to perform renovation work for the City of New York at the Hamilton Avenue Highway Yard in Brooklyn, New York. Defendant Fidelity & Deposit Company issued a labor and material payment bond as surety to defendant Constantine pursuant to State Finance Law § 137. Constantine thereafter entered into a subcontract with Middletown Structurals, Inc. for the erection of structural steel at the project site. The subcontract...

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