The firm was retained by a multi-home developer to obtain a partial release of surety bonds securing a large subdivision development. The client’s goal was to perform a reduced scope of work and obtain exoneration of the bonds from the public entity as the development was no longer economically viable. The firm devised a plan and through litigation obtained complete exoneration of bonds with penal sums in excess of $6.5 million, with no work required by the firm’s client.
Counsel: P. Randolph Finch Jr. and Jason R. Thornton