WTC Developers Can't Recover More Funds From Insurers

Law360, Los Angeles (September 18, 2013, 8:30 PM EDT) -- A New York federal judge on Wednesday ruled companies associated with World Trade Center developer Larry Silverstein can't recover money from a $1.2 billion settlement between their insurers and a host of airlines, saying the companies' losses in the Sept. 11 terrorist attacks have been covered by more than $4 billion in insurance payments.

U.S. District Judge Alvin K. Hellerstein dismissed the WTC developers' lawsuit against a handful of insurers, including QBE Insurance Group Ltd., Industrial Risk Insurers and several underwriters at Lloyd's in London. 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.