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EMMCO INSURANCE COMPANY v. FRANKFORD TRUST COMPANY

Civ. A. No. 71-2618.

352 F.Supp. 130 (1972)

EMMCO INSURANCE COMPANY, an Indiana corporation, Plaintiff, v. FRANKFORD TRUST COMPANY et al., Defendants.

United States District Court, E. D. Pennsylvania.

December 27, 1972.

Attorney(s) appearing for the Case

Kenneth Cushman, Arthur L. Pressman, Pepper, Hamilton & Scheetz, Philadelphia, Pa., for plaintiff.

Henry A. Stein, Edward Greer, Mesirov, Gelman, Jaffe & Levin, Philadelphia, Pa., for defendant Frankford Trust Co.

Louis C. Bechtle, U. S. Atty., Walter S. Batty, Jr., Asst. U. S. Atty., Philadelphia, Pa., for defendant Federal Housing Administration.

Bertram Bennett, Jenkins, Bennett & Jenkins, Philadelphia, Pa., for defendant Thonet Industries, Inc.

Richard M. Shusterman, White & Williams, Philadelphia, Pa., for defendant Strescon Industries, Inc.

OPINION AND ORDER

JOSEPH S. LORD, III, Chief Judge.

I. FACTS

By a writing dated July 31, 1969, plaintiff as re-insuror executed and delivered a certain reinsurance agreement in the penal amount of $78,118.50 on behalf of United Bonding Insurance Company ("United"), whereby plaintiff undertook to reinsure a portion of a certain performance bond that United and Noe Construction Corporation ("Noe") executed in favor of Colonial Funding Corporation...

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