Title: Furlong Development Co. v. Georgetown-Scott County Planning & Zoning Commission
Citation: N/A
Docket Number: 
State: Kentucky
Issuer: Kentucky Supreme Court
Date: December 15, 2016

Furlong Development Co. v. Georgetown-Scott County Planning & Zoning Commission Annotate this Case Justia Opinion Summary Developer intended to develop real property into single-family residential lots and secured financing through Bank. Insurer provided a surety bond to the Planning and Zoning Commission. Insurer executed three Bond Agreements as surety for Developer. Developer later defaulted in its loan. In lieu of foreclosure, Developer deed the property to Bank’s property management company. Bank transferred the property to another internal holding company. The Commission subsequently complied with Bank’s request for the Commission to call Developer’s bonds and place the proceeds in escrow for the purpose of reimbursing Bank for completion of the necessary infrastructure projects required by Developer’s approved plat. Developer filed a declaratory judgment action alleging that the bonds were not callable and that payment on the bonds would result in Bank receiving an unjust enrichment. The trial court granted summary judgment for Defendants. The Supreme Court affirmed, holding (1) Developer was liable under the bond; and (2) Developer’s claims of error during discovery were unavailing. Read more Want to stay in the know about new opinions from the Kentucky Supreme Court? Sign up for free summaries delivered directly to your inbox. Learn More › You already receive new opinion summaries from Kentucky Supreme Court. Did you know we offer summary newsletters for even more practice areas and jurisdictions? Explore them here . Download PDF