We have obtained court security withholding payment from the insurance guarantee
For our client – general contractor of construction works – we have obtained a court security that ensures withholding of payment from the insurance guarantee of claims in the amount of almost 1 million PLN reported by the investor.
The positive decision of the District Court in Warsaw is all the more pleasing because the possibility of granting security consisting in prohibiting the beneficiary from using the insurance guarantee (or bank guarantee) raises serious doubts in the court’s jurisprudence, especially due to the abstract nature of the guarantee itself.
Courts often do not grant this type of collateral, but in this case the factual arguments in the area of construction law, contract law and civil procedure have made it possible to suspend the guarantee.
The application for granting the security was prepared by Maciej Król – Manager, responsible in O&W for the practice of construction law and real estate law, and Mateusz Kisiela from the litigation team.
Congratulations on your success!