Originally Posted by hilde123
I am working with one of Villa & Sons Sureties (bonding company) IFIC on another project and I am pretty sure the entire company is bankrupt. IFIC indicated they are taking a very large loss on getting Villa & Sons projects. I can tell you a company doesnt default on its bonds unless it is in real bad shap; the indeminity agreements the sureties have with almost all companies include personnel assets of the principals.
is it going to profitable for your or did the bonding company beat you down on it? im sure they'll be a mad dash by the bonding company to get some assest from vila