Hartford Fire Insurance v. Columbia State Bank

¶1 Hartford Fire Insurance Company appeals from the superior court’s grant of summary judgment dismissal of Hartford’s claims against Columbia State Bank and the superior court’s denial of Hartford’s summary judgment motion. Hartford had issued bonds for Waka Group Inc., a general contractor, and made payments under one bond when Waka defaulted on a project. Hartford argues that it was entitled to recover progress payment funds Columbia removed from Waka’s collateral control account because Waka had a contractual obligation to hold progress payments in trust for Hartford’s benefit to provide…