By North Carolina Judicial Branch
Old Republic Nat'l Title Ins. Co. v. Hartford Fire Ins. Co.
Dispute between bank that made a construction loan to a developer and the company that issued payment and performance bonds to a contractor who was not paid for his work; whether certain issues decided by a jury in a previous action between the contractor, who was in privity with the bond company, and the bank, coupled with statements made by the bond company's counsel to the court in the prior action, barred the bond company's claims in a later action raising the same issues; application of judicial estoppel.
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Summary
Dispute between bank that made a construction loan to a developer and the company that issued payment and performance bonds to a contractor who was not paid for his work; whether certain issues decided by a jury in a previous action between the contractor, who was in privity with the bond company, and the bank, coupled with statements made by the bond company's counsel to the court in the prior action, barred the bond company's claims in a later action raising the same issues; application of judicial estoppel.