Prepakt Concrete Co. v. Fidelity & Deposit Co. of Maryland

KILEY, Circuit Judge.

This suit by Prepakt Concrete Com-peny arises from the construction of a high-rise apartment building on property owned by Continental Illinois National Bank as trustee. Goethe Building Corporation was the prime contractor, and Mid-Continent Construction Company, Inc., its subcontractor. Prepakt was Mid-Continent’s second tier subcontract- or. Fidelity and Deposit Company of Maryland furnished a labor and material payment bond for Mid-Continent.

Prepakt was not paid for the construction work which it performed on the apartment building. As a result, it sued Mid-Continent…