Fidelity & Casualty Co. of New York v. First National Exchange Bank

The final order entered June 2, 1971, from which these appeals were granted, denied relief to The First National Exchange Bank of Virginia (Bank) on its bill to enforce a mechanic’s lien under Code § 43-1 et seq. (Record No. 7878), and denied relief to The Fidelity and Casualty Company of New York (Fidelity) on its cross-bill to recover certain monies received by the Bank (Record No. 7877).

The controversy, arising from the financial collapse of Virginia Prestressed Concrete Corporation (Prestressed) and its wholly owned subsidiary, Atlas Erectors, Incorporated (Atlas), was submitted to the…