Finding Paths in the Subrogation Process for Sureties to Recover Loss
While a Fiduciary Surety has a legal obligation to pay the principal in the event of trust asset loss, it may also have a right of subrogation against the entity or person that caused the principal to default. Achieving subrogation recovery in these types of claims requires a creative approach to identifying responsible parties to maximize the surety’s chance of total recovery.
Rathbone Group’s skilled subrogation attorneys, claims adjusters and specialists offer legal services for fiduciary sureties navigating a subrogation lawsuit. Thorough investigations, cost-effective services, and proficiency in specific subrogation laws in dozens of state and federal jurisdictions allow us to provide our clients with the best avenues towards recovery.
One key to successful subrogation in this area is ensuring we have identified all parties liable in the trust asset loss. Sometimes, the liable party may even be a trustee, in which case pursuing recovery may prove difficult and particularly contentious. Rathbone Group is adept not only at pre-suit negotiations, including mediating or arbitrating the subrogated claim, but our attorneys are renowned for their litigation skills across all sectors of subrogation.
Subrogation law creates opportunities to recover loss on bond payouts. Many sureties miss this avenue of redress due to the complex nature of subrogation law. Subrogating a bond claim requires inventive and resourceful recognition of third party liability in order to be successful. The subrogation of fiduciary surety bonds also requires a cost-conscious approach. Our attorneys and team of subrogation professionals offer unequaled legal services for tricky subrogation claims cases like these.
Effective Recovery of Subrogation Claims Damages for Fiduciary Sureties
Rathbone Group pursues all entities and guarantors on issued bonds. Even successor corporations have exposure when potential parties are identified; the key is to identify all entities where liability can be applied. Our experienced subrogation attorneys explore all avenues to recovery, including criminal restitution orders for individuals or companies, and receiverships or inventory levies performed on any existing businesses.
When a fiduciary surety decides to take control of recouping their payouts, they strengthen all damaged parties, deter future misconduct by tortious parties, and preserve public perception of the quality and security of their trust services. A nationwide subrogation law firm, Rathbone Group’s cost-effective, creative approach to subrogation investigation, litigation and resolution allow sureties to recover loss even in the most difficult cases.