Insurer Off Hook For $20M WTC Shops Claim: Court

Law360 (March 20, 2009, 12:00 AM EDT) -- Factory Mutual Insurance Co. will not have to pay a $20 million claim filed by Retail Brand Alliance Inc. over three chain stores destroyed in the Sept. 11 terrorist attacks on New York's World Trade Center, after a judge agreed with the insurer's contention that the company did not seek to replace the lost stores.

Judge Richard J. Holwell of the U.S. District Court for the Southern District of New York granted Factory Mutual's motion for summary judgment on Wednesday in a brief order.

The ruling...
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