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STATE EX REL. WAGNER v. AMWEST SUR. INS.

No. S-05-1267.

738 N.W.2d 805 (2007)

274 Neb. 110

STATE of Nebraska ex rel. L. Tim WAGNER, Director of Insurance of the State of Nebraska, Appellee, v. AMWEST SURETY INSURANCE COMPANY, Appellee, and Strategic Capital Resources, Inc., Claimant, Appellant.

Supreme Court of Nebraska.

August 17, 2007.

Attorney(s) appearing for the Case

Steven N. Lippman, of Rothstein, Rosenfeldt & Adler, Fort Lauderdale, FL, and Sean M. Reagan, of Reagan Law Offices, P.C., L.L.O., for appellant.

John H. Binning, Robert L. Nefsky, and Jane F. Langan, of Rembolt Ludtke, L.L.P., Lincoln, for appellee L. Tim Wagner.

HEAVICAN, C.J., WRIGHT, CONNOLLY, GERRARD, STEPHAN, and MILLER-LERMAN, JJ.

GERRARD, J.

Saxton, Inc., entered into four lease agreements with Strategic Capital Resources, Inc. (Strategic), then contracted with Amwest Surety Insurance Company (Amwest) to issue four corresponding lease bonds under which Amwest agreed to provide payment to Strategic in the event that Saxton defaulted. Amwest became subject to an order of liquidation, pursuant to which Amwest's lease bonds were canceled and a statutory liquidator was appointed to manage claims...

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