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What is Stronghold Insurance vs. Tokyu Construction Case about?

1) Tokyu Construction was awarded a contract to construct NAIA Terminal 2 and subcontracted work to Gabriel Enterprises, who obtained surety bonds from Stronghold Insurance to guarantee repayment of advances and completion of work. 2) Gabriel defaulted on the subcontract. Tokyu terminated the agreement and demanded repayment from Stronghold under the surety bonds. 3) The court ruled that Stronghold was liable under the surety bonds. Revisions to the subcontract did not invalidate the bonds, as surety ob

Author

Lara Yulo

Language

EN