Travelers Sued For $36M Over NYC Subway Project

Law360, New York (June 2, 2011, 2:14 PM EDT) -- Transit Technologies LLC hit Travelers Casualty and Surety Co. of America with a $36 million suit Wednesday in New York, claiming Travelers shunned its responsibility to complete a New York City subway project after Transit's subcontractor abandoned the job.

According to a complaint filed in New York state court, Travelers and Transit subcontractor Five Star Electric Corp. issued Transit a $36 million surety bond in October 2003 to ensure performance of the subcontract.

Hauppage, N.Y.-based Transit accuses Travelers of dishonoring the terms of the bond after...
To view the full article, register now.