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Harbour View, contractor insolvency and the importance of a guarantee expiry date – Practical Law Construction Blog (Alexandra Bodnar)
Alexandra Bodnar and Carly Thorpe from Walker Morris have contributed to the Practical Law Construction Blog.
One of the interesting features of the recent decision of Coulson J in Ziggurat (Claremont Place) LLP v HCC International Insurance Company Plc is the effect on a guarantee of a contractor becoming insolvent many years after a construction project has been completed. In Ziggurat, the amended ABI model form of guarantee bond had not yet expired. This allowed the employer to make a claim under the guarantee arising out of the contractor’s insolvency, notwithstanding the fact that the contractor’s employment had already been terminated and the project had achieved practical completion.
To read the full blog, please click here.
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