Judge: Mark E. Windham, Case: 22STLC01878, Date: 2023-09-05 Tentative Ruling

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Case Number: 22STLC01878    Hearing Date: January 11, 2024    Dept: 26

  

Old Republic Surety Co. v. Renovate USA Green Energy, Inc., et al.

HEARING ON DISBURSEMENT OF FUNDS

(CCP §§ 386, 386.5; Cal. Govt. Code § 68084.1)

TENTATIVE RULING:

The ruling will be according to proof at the hearing. If no parties appear, the Hearing on Disbursement of Funds will be placed off calendar and any unclaimed surplus funds will be ordered to escheat according to law.

 

 

ANALYSIS: 

 

On March 23, 2022, Plaintiff Old Republic Surety Company (“Plaintiff”) initiated this interpleader action against Defendants Renovate USA Green Energy, Inc. (“Defendant Renovate”) A-4 Painting Team (“Defendant A-4”), Prithvi Singh (“Defendant Singh”), and Silverline Home Remodeling, Inc. (“Defendant Silverline”). Defendant A-4 is in default as of June 28, 2023; Silverline filed an answer on July 14, 2023. Default was entered against Defendants Renovate and Singh on September 11, 2023.

 

The Complaint alleges that this action arises from a dispute over Construction Bond No. WCL5923730 (the “Bond”) in the penal sum of $15,000.00. (Compl., ¶7.) On November 8, 2019, Defendant Renovate allegedly agreed to indemnify Plaintiff in exchange for the issuance of the Bond pursuant to an Application and Indemnity Agreement (“the Indemnity Agreement”). (Id. at ¶¶6-7.) After the Bond was issued, the remaining Defendants alleged that Defendant Renovate committed some act that gave rise to liability under the Bond and now have made claims against the Bond. (Id. at ¶¶8-9.) Defendant Renovate allegedly refuses to hold Plaintiff harmless from the claims against the Bond, in breach of the Indemnity Agreement. (Id. at ¶¶8, 10.)

 

Plaintiff deposited the bond funds of $15,000.00 with the Court on September 13, 2023. Plaintiff filed a Motion to Deposit by Stakeholder, for Discharge of Stakeholder, and Award of Costs and Escrow Compensation, which the Court granted on November 21, 2023. (Minute Order, 11/21/23.) The Court also set the instant Hearing on Disbursement of Funds for December 11, 2023. (Ibid.)

 

Only Defendant Silverline has filed a response to this action but no claims to the funds have been filed to date. Accordingly, the ruling will be according to proof at the hearing. If no parties appear, the Hearing on Disbursement of Funds will be placed off calendar and any unclaimed surplus funds will be ordered to escheat according to law.

 

       

 

 

Court clerk to give notice.