Slaw Construction Corp. v. George Washington Industrial Park, Inc. (In re Slaw Construction Corp.)

OPINION

EMIL F. GOLDHABER, Bankruptcy Judge:

The issue in the case sub judice is whether certain funds held by a bank as *976retainage under a paving contract executed between the debtor and the defendant, is now due and owing to the debtor. We conclude that the aforesaid retainage is presently owing to the debtor because the release of the retainage, despite the defendant’s contention, is not conditioned upon either the posting of a two-year maintenance bond or the dedication of a paved road to the township in which the paving was done.

The facts of the instant case are as follows: 1 On October…