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CARIBBEAN CONSTRUCTION SERVICES & ASSOCIATES, INC. v. ZURICH INSURANCE COMPANY

286 A.D.2d 218 (2001)

729 N.Y.S.2d 27

CARIBBEAN CONSTRUCTION SERVICES & ASSOCIATES, INC., Respondent, v. ZURICH INSURANCE COMPANY, Appellant.

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

Decided August 2, 2001.

Defendant Zurich issued a bond to discharge a lien filed by plaintiff, a corporation organized under the laws of the United States Virgin Islands, against a construction project owned by Pemberton Resorts, Inc. Plaintiff subsequently obtained an award in arbitration against Pemberton, which was reduced to a judgment in the amount of $153,622 on or about June 3, 1994. Following Pemberton's insolvency, plaintiff demanded payment on the bond from Zurich by letter mailed to its...

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