No Payday For Insurance Co. In 9/11 Case: 2nd Circ.

Law360, New York (October 21, 2008, 12:00 AM EDT) -- A federal appeals court on Monday ruled against Industrial Risk Insurers Inc. in its attempt to recoup from Citigroup Inc. and others $861 million in payments in the wake of the Sept. 11, 2001, terrorist attacks that claimed 7 World Trade Center among other New York buildings.

The U.S. Appeals Court for the Second Circuit affirmed a lower court's opinion, dismissing a lawsuit against defendant Citigroup, ruling that a lease between Silverstein Properties Inc. and Citigroup Global Markets Holdings Inc. assumed risks associated with the devastating...
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.