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IN THE MATTER OF FRONTIER INS. CO.

506641

73 A.D.3d 36 (2010)

897 N.Y.S.2d 764

In the Matter of the Rehabilitation of FRONTIER INSURANCE COMPANY. ALKO CONSTRUCTION COMPANY AND DEVELOPMENT, INC., Respondent. FRONTIER INSURANCE COMPANY, Appellant.

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

Decided April 1, 2010.

Attorney(s) appearing for the Case

Lewis & Greer, P.C., Poughkeepsie ( Anthony F. DeStefano of Mauro, Goldberg and Lilling, L.L.P., of counsel), for appellant.

Vedder Price, P.C., Chicago, Illinois ( Michael J. Hutter of Powers & Santola, L.L.P., of counsel), for respondent.

Concur—CARDONA, P.J., KAVANAGH, McCARTHY and EGAN JR., JJ., concur.

OPINION OF THE COURT

PETERS, J.

In 1999, petitioner, an Illinois corporation, was hired as the general contractor for the construction of a high-rise condominium complex in Chicago, Illinois. Petitioner engaged Chicago Concrete Contractors, Inc. as a subcontractor to provide concrete for the project with a contract price of $5,255,155. Pursuant to the terms of the subcontract, Chicago Concrete obtained payment and performance bonds from respondent in the...

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