9/11 WTC Attacks Count As 2 Events, UK Court Says

Law360, New York (February 8, 2013, 5:48 PM EST) -- A U.K. high court held Friday that the Sept. 11, 2001, terrorist attacks on the World Trade Center counted as two occurrences arising out of two events, upholding an arbitration tribunal's award to a Barclays PLC subsidiary that suffered losses on reinsurance contracts.

Siding with Barclays unit Heraldglen Ltd. and Advent Capital (No. 3) Ltd., the High Court of Justice rejected Aioi Nissay Dowa Insurance Co. Ltd.'s challenge to the arbitration tribunal's January 2012 decision. Its ruling on the number of events impacts policy limits and...
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