No more compensation due World Trade Center developer -judge
Thursday, September 19th, 2013 Catastrophe Liability SubrogationNew York property developer Larry Silverstein is not entitled to funds that insurers of his World Trade Center properties won from airlines over the attacks of Sept. 11, 2001, a federal judge ruled on Wednesday. Silverstein’s World Trade Center Properties sued QBE International Insurance Ltd and other insurers in 2010, after they won a $1.2 billion settlement with airlines and airport security companies. Silverstein had already settled his own claims against the insurers for more than $4 billion. He subsequently argued that the insurers, under the terms of their policies, were required to turn over whatever they recovered from the airlines.
External References & Further Reading
http://www.reuters.com/article/2013/09/18/usa-worldtradecenter-airlines-idUSL2N0HE2LI20130918
