C & I Steel, LLC v. Travelers Casualty & Surety Co. of America

If the same counsel had not represented the general contractor and the surety,1 this case could easily be *664decided under the succinct colloquial rubric — “you snooze, you lose.” In this case, Travelers implicitly agreed to be bound by the result of the arbitration proceedings against its principal. Travelers also had actual notice of the arbitration proceedings, the opportunity to defend, and notice of the punitive damages sought by C & I against its principal.2 As no allegations of fraud or collusion are raised, Travelers was therefore bound by the result.3 I thus conclude that in these…