Silverstein jury determines two planes equal two events.(National Report)

Claims, January, 2005

A Manhattan federal jury has ruled in favor of World Trade Center leaseholder Larry Silverstein, declaring that the hijacked planes that destroyed the Twin Towers count as two separate attacks for insurance purposes.

"This is a win for all New Yorkers," Silverstein said. "Today's decision means an additional billion dollars of insurance proceeds will be available, which, together with Liberty Bonds, will ensure a timely and complete rebuild of the World Trade Center. I strongly felt, and the jury agreed, that the destruction of the Twin Towers by two separate airplanes at two separate times was two separate occurrences and that these insurers have an obligation to pay their fair share to help make Lower Manhattan whole again."

In the second phase of...

Read the rest of this article with a Free Trial at HighBeam Research.

Premium Content Partnership | HighBeam Research provides an in-depth online archive library of reference works.