Articles Tagged with ''surety bonds''

Most of the potential loss involves an electrical power plant in Oregon.

PhScarborough had pledged coal waste at this West Virginia tract as the asset backing his bonds. Edmund C. Scarborough, who owned the biggest and most public individual surety business in the U.S., once claimed that his guarantees were backed by solid assets comprised of valuable coal waste.In federal bankruptcy court in Tampa July 17, Scarborough and his wife, Yvonne, filed for protection from their creditors, listing assets of $4.5 million and liabilities of $16.2 million.The 70-page filing states that the main business asset held by the debtors is IBCS Mining, a Charlottesville, Va., based company that

An investigation of the individual surety Edmund C. Scarborough raises many questions about his business.