Provident Trust Co. v. Metropolitan Casualty Ins. Co.

GOODRICH, Circuit, Judge.

This case arises on appeal from two District Court judgments, 1 against a surety on three completion bonds in the aggregate amount of $868,264.79. Both cases are factually alike and present identical questions of law. 2 The persons involved are: Provident Trust Company of Philadelphia, plaintiff; Metropolitan Casualty Insurance Company of New York, defendant; and Equitable Bonded Indemnity Company with its wholly owned subsidiary, Equitable Securities Corporation. From the business operations of the Equitable companies with certain builders, Furman, Roehm and Storck…