Judge: Stephen I. Goorvitch, Case: 21STCV13765, Date: 2022-09-19 Tentative Ruling

Case Number: 21STCV13765    Hearing Date: September 19, 2022    Dept: 39

VII Commercial Corporation v. Mountain View Shopping Center, Inc.

Case No. 21STCV13765

Application for Order Releasing Surety

Plaintiff VII Commercial Corporation (“Plaintiff”) applies for an order releasing Surety Suretec Insurance Company (“Surety”) for liability on the bond Plaintiff filed in this action.  Plaintiff posted a $10,000 bond on May 25, 2021.  A bond remains in effect until the purpose for which the bond was given is satisfied without liability having been incurred.  (Code Civ. Proc., § 995.430, subd. (b).)  Here, Plaintiff filed a bond, which Surety issued, as security for the right to attach order and writ of attachment Plaintiff obtained to satisfy an arbitration award in favor of Plaintiff.   Plaintiff has satisfied the arbitration award without attempting to levy on the writ of attachment.  Accordingly, the purpose for which the bond was given is satisfied.  The application is granted.  Plaintiff is ordered to give notice of this order and file proof of service of such.