WTC Lease Holder Gets Bad News
|NU Online News Service, Jan. 2, 1:00 p.m.EST?The lease holder of the World Trade Center in New Yorkended his year on a sour note in his bid to get insurers to paydouble what they contended they were obligated to pay whenterrorists struck and destroyed the two towers on Sept. 11,2001.[@@]
|On Wednesday, U.S. District Judge Michael Mukasey in Manhattanruled that jurors could be told of an appeals court decisionunfavorable to Larry Silverstein's bid to get insurers to pay twoclaims instead of the one claim insurers state they owe him.
|On Sept. 26, the 2nd U.S. Circuit Court of Appeals inManhattan ruled that a lower court's decision that the terrorattack constituted one event not two, as Mr. Silverstein contends,would stand.
|Under the policy, Mr. Silverstein is entitled to $3.5 billionper event. He is looking to collect close to $7 billion, contendingthat the two jets that struck the towers were two events.
|The insurers involved include Swiss Re, The Hartford, Travelers,The St. Paul Companies, Royal Indemnity and others.
|A trial date has been set for early February.
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