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...
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