Real estate developer Larry Silverstein's lawyers hope that the recent settlement of World Trade Center terrorist attack claims with two insurers will encourage other insurers "to do the right thing and settle."
But Marc Wolinsky, one of Mr. Silverstein's attorneys at the New York law firm of Wachtell Lipton, Rosen & Katz conceded that he is not that optimistic.
At least "we're $365 million ahead of anybody else," Mr. Wolinsky said of the agreement that treated the two plane crashes, which destroyed the towers, as one incident.
Mr. Silverstein, it was announced, settled his claims on Friday with ACE Bermuda Insurance Ltd. a subsidiary of ACE Limited, and XL Insurance, a Bermuda-based division of XL Capital Ltd.
