On-Site Magazine

Zurich Insurance suing former Bondfield Construction CEO to recover $200M, report says

By On-Site Staff   


Switzerland-based insurance giant Zurich Insurance Group Ltd. is taking legal action in an attempt to recover $200 million it says it paid out as a result of Bondfield Construction Co. Ltd.’s collapse, the Globe and Mail reported Jan. 15.

The paper, which has been following developments with the major Vaughan, Ont.-based contractor closely, noted none of the allegations have been proven in court.

Bondfield has been a major player in Ontario construction industry for years, booking hundreds of millions of dollars in revenue a year. It was granted creditor protection last spring.



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