2nd Circ. Affirms $1.2B WTC Insurance Settlement

Law360, New York (April 8, 2011, 3:47 PM EDT) -- The Second Circuit approved a $1.2 billion insurance settlement on Friday over property damage from 9/11, rejecting concerns from World Trade Center developers that the deal would limit what they could get from airlines and their insurers.

The U.S. Court of Appeals for the Second Circuit rejected the WTC developers' arguments that the district court failed to properly evaluate the settlement before approving it, and that the deal violated the Air Transportation Safety and System Stabilization Act.

The settlement was between a slew of insurers responsible...
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