Insurer Sues To Nix Skanska Air Force Project Bond

Law360, New York (July 16, 2013, 4:51 PM EDT) -- Star Insurance Co. sued a U.S. arm of Swedish construction giant Skanska AB in Texas federal court on Monday, trying to revoke a performace bond issued to an Air Force base project subcontractor that Skanska allegedly overpaid by $1.3 million.

Star lodged the suit after a company named PAC Glazing Solutions allegedly walked away from its subcontract with Skanska and left behind unfinished work. Skanska then turned to Star for payment under a guaranty that named Skanska as obligee.

The surety alleges Skanska failed to properly...
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