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TENCO EXCAVATING v. FIRST SEALORD SUR.

No. 20 FSS 2012

78 A.3d 1181 (2013)

TENCO EXCAVATING, INC., Plaintiff v. FIRST SEALORD SURETY, INC. (In Liquidation), Defendant (Ancillary matter to In Re: First Sealord Surety, Inc., In Liquidation No. 1 FSS 2012).

Commonwealth Court of Pennsylvania.

Decided August 27, 2013.

Attorney(s) appearing for the Case

Douglas Y. Christian , Philadelphia, for plaintiff.

Steven B. Davis , Jeffrey D. Grossman and Karl S. Myers , Philadelphia, for defendants.

BEFORE: LEADBETTER, Judge, BROBSON, Judge, and FRIEDMAN, Senior Judge.

OPINION BY Judge LEADBETTER.

In this adversary proceeding ancillary to the liquidation of First Sealord Surety, Inc. (First Sealord or FSS), Tenco Excavating, Inc. (Tenco), as a limited intervenor, has filed a Complaint against the Liquidator of First Sealord. Tenco alleges that cash in First Sealord's operating accounts at the time of liquidation included cash deposited by Tenco to indemnify First Sealord in the event of losses on Tenco's performance bonds, and subsequently...

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