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PDT Secures +$6.2 Million Collateral Award for Surety

Posted in News by Brett D. Divers, Robert C. Graham, Jr. on Fri May 10, 2024

PDT Managing Partner Brett Divers and Shareholder Rob Graham recently secured a preliminary injunction from the United States District Court for the Middle District of Florida, in favor of Argonaut Insurance Company, in a lawsuit seeking to enforce indemnity obligations various individual and corporate indemnitors owe to Argonaut following a bond principal’s default on multiple construction projects. The 27-page order, which the Honorable Carlos E. Mendoza, United States District Judge, issued after an evidentiary hearing and written briefing, compels the indemnitors to post over $6.2 million in collateral security, preliminarily enjoins them from transferring or otherwise encumbering any assets until they do so, and further grants Argonaut full access to the indemnitors’ financial books and records.

Click here to read a copy of the Court’s Order.  

PDT’s nationally recognized suretyship lawyers have a combined total of close to 100 years of industry representation and are focused on providing the highest quality legal representation to achieve favorable results for our clients.