2nd Circ. Sides With Allianz In WTC Coverage Fight

Law360, New York (July 30, 2009, 5:19 PM EDT) -- A federal appeals court has sided with Allianz Global Risks US Insurance Co., which won a declaration that World Trade Center Properties LLC does not have a priority claim to any funds the excess insurer recovers from third parties on the company's behalf in tort litigation over the Sept. 11 attacks.

The U.S. Court of Appeals for the Second Circuit upheld the summary judgment decision for Allianz in its declaratory action against its insured, WTC Properties, in an unpublished decision Tuesday.

The dispute centers around the...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.