By Lisa Tancredi and Laura Murphy (May 31, 2022, 4:50 p.m. EDT) — On June 6, the United States Court of Appeals for the Fifth Circuit will hear oral argument in Argonaut Insurance Co. v. Falcon V LLC, a case that is being followed with interest by the surety industry.
In Falcon V, the bankruptcy and lower district courts held that a bond program was not an enforceable contract. As a result, the debtor was relieved of its unsecured obligation to exonerate or indemnify the surety, even though the bonds would remain in place to support ongoing operations.
Falcon V presents several important and unresolved issues. First of all, the question arises whether…
Stay one step ahead
In the legal profession, information is the key to success. You need to know what’s going on with customers, competitors, practice areas and industries. Law360 provides the intelligence you need to stay an expert and beat the competition.
Access to case data in articles (numbers, filings, courts, nature of lawsuits, etc.)
Access to attached documents such as briefs, motions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and more!