Judge Ponders Possibly Two Trials to Settle WTC Dispute

August 23, 2002

A federal judge reportedly may order a pair of trials to decide how much in insurance proceeds World Trade Center leaseholder Larry Silverstein should receive to rebuild the destroyed site, according to an Associated Press report.

The dispute involving Silverstein and some 20 insurers over the damage as a result of the Sept. 11 attack is slated to go to trial Nov. 4.

At a hearing this week, U.S. District Judge John Martin in Manhattan said he was inclined to see that a jury in the Nov. 4 trial should only determine contractual issues.

A separate jury in mid-March would look to answer the question of whether the attacks were one or two occurrences, plus determine how much the insurers should be required to pay Silverstein.

An attorney for Silverstein stated that designs for the World Trade Center site would not be available until the amount of insurance coverage is decided, asking the judge to have all the issues finished at one trial in November.

To date, court-ordered settlement discussions have been unsuccessful, with Silverstein and his insurers still several billion dollars apart.

Was this article valuable?

Here are more articles you may enjoy.