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SURETY AND FIDELITY
Our attorneys and legal assistants
offer over 30 years of experience in surety law. We handle all
aspects of surety practice including investigation, negotiation
and project completion.
We have handled thousands of surety
claims throughout the country and are highly-experienced in the
prosecution and defense of Miller Act and state "little"
Miller Act matters. Construction suretyship is among the
most complex fields of law. It requires a comprehensive
analysis of legal principals in several established areas, including
contract, tort, equity, statutory law, creditor's rights, insurance,
professional liability and damages in order to resolve disputes
arising from the issuance of a bond. We must consider a
host of interrelated and subtle issues to properly and efficiently
handle these claims. As such, we pursue these matters to
promptly and efficiently evaluate contract breaches, performance
issues, payment bond matters, adequacy of design, proper administration
of the contract, applicable defenses, litigation and indemnity.
Our firm achieved national recognition
in the case of Dragon Construction, Inc. vs. Parkway Bank
and Trust, et al., 678 N.E. 2d. 55 (Ill. App. 1d. 1997),
App. denied, 173 Ill. 2d. 524, wherein the surety was
completely discharged pursuant to the terms of its performance
bond after the obligee failed to honor the technical requirements
of the incorporated contract pertaining to termination.
The court adopted our position that the obligee materially breached
the construction contract by defaulting the principal without
proper notice and then finishing the project by retaining a
completion contractor without notice to the surety. This case
has been cited and accepted in several other jurisdictions throughout
the United States.
The firm's fidelity work includes investigation
and assessment of claims, coverage determination, litigation defense,
negotiation and subrogation. Addis Greenberg & Schultz,
L.L.C. has contacts with accountants, engineers, consultants
and investigators throughout the United States whose assistance
can be crucial to efficient claims resolution and/or litigation.
We also handle all aspects of financial institution bonds and related
insurance claims including forged endorsement claims, lost and replaced
securities claims, payments over stop orders, and defense of alleged
intentional torts against financial institutions.
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