Powered by Blogger.
Menu :

World Trade Center: A Little View

World Trade Centre brings in our mind a lots of memories which we can never forget. Today we are going to spread light on the issue of the owner of  The World Trade Centre.  The owners of the World Trade Center can't demand billions of dollars more in insurance money for the destruction caused by the Sept. 11 attacks, a federal judge decided Thursday.
Judge Alvin Hellerstein ruled after hearing testimony by economic experts for the trade centre owners and for the airlines linked to the planes that were hijacked in the attacks. The non-jury trial was held to decide whether the owners could collect more than the nearly $5 billion they've already received toward reconstruction.

In ruling against developer Larry Silverstein and World Trade Center Properties, the judge cited state laws that bar "windfalls and double recovery on the same loss."
The judge said that though he was ruling against the trade centre owners, they deserved credit for spearheading the recovery effort at the 16-acre lower Manhattan site.
"You were dealt a very severe blow," the judge said of the attack, which turned the trade centre into an inferno and destroyed the twin towers. Since then, the developer's workers have laboured to "create beauty out the ashes of the destruction," he added.

A spokesman for Silverstein Properties said the developer was "deeply disappointed" by the ruling and would appeal but remains committed to the ongoing construction projects on the site.
"We will not rest until we have exhausted every option to assure that the aviation industry's insurers pay their fair share toward the complete rebuilding of the World Trade Center," said the spokesman, Bud Perrone. Source and more details


Bookmark and Share

0 comments:

Post a Comment