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Owner of World Trade Center is trying to sue airlines for BILLIONS for 9/11 attacks - What say you?

Posted by on Jul. 16, 2013 at 4:46 PM
  • 8 Replies

 

Owner of World Trade Center is trying to sue airlines for BILLIONS for 9/11 attacks... even though he was already paid $5billion in insurance

  • Larry Silverstein, the owner of the World Trade Center, is seeking $3.5billion from United Airlines, US Airways and American Airlines
  • Silverstein argues that the 9-11 attacks cost his property group more than $7billion
  • The new One World Trade Center alone cost $3.9billion

By Daily Mail Reporter and Associated Press

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The owner of the World Trade Center is arguing in federal court that the airlines who planes were flown into the Twin Towers on September 11, 2001 should pay him billions in compensation.

Larry Silverstein is attempting to collect $3.5billion from United Airlines, US Airways and American Airlines - on top of nearly $5billion he has already received from his insurance company.

U.S. District Judge Alvin K. Hellerstein in Manhattan is listening to arguments on both sides before he will rule on whether Silverstein's World Trade Center Properties can file a lawsuit against the airlines.

He is expected to rule from the bench as soon as several witnesses conclude testifying in the trial expected to last about three days. Arguments began on Monday.

Total loss: Larry Silverstein, who is the principle owner of the World Trade Center, has been paid nearly $5billion by his insurance companies after the towers collapsed

Total loss: Larry Silverstein, who is the principle owner of the World Trade Center, has been paid nearly $5billion by his insurance companies after the towers collapsed

Silverstein, who is developing the new World Trade Center, is hoping a judge will grant him legal standing to sue the airlines involved in the World Trade Center attacks

Silverstein, who is developing the new World Trade Center, is hoping a judge will grant him legal standing to sue the airlines involved in the 9/11 World Trade Center attacks

Lawyers for the owners argued during opening statements that the money they already have received does not preclude them from separately pursuing damages against aviation companies.

Attorney Roger Podesta, who represents the airlines, said the $3.5 billion being sought for destruction of the twin towers and a third skyscraper would amount to double compensation.

He said an $8.5 billion total recovery would be more than 2 1/2 times the fair value of the buildings that fell.

 

Attorney Richard Williamson, representing World Trade Center Properties, said accounting and construction experts had assessed damages of at least $7.2 billion from the September 11, 2001 attacks.

One World Trade Center, which topped out earlier this year and became the tallest building in the western hemisphere, cost an estimated $3.9billion.

It is slated to open in early 2014.

The new One World Trade Center, the third-tallest building in the world, cost $3.9 billion. It is expected to open nearly next year

The new One World Trade Center, the third-tallest building in the world, cost $3.9 billion. It is expected to open nearly next year

'This did not just come out of a hat.' he said of the damage figures. 'You can't just say, "I have economic loss."'

The trade center owners say it has cost more than $7 billion to replace the twin towers and more than $1 billion to replace the third trade center building that fell.

The trial's first witness was Michael S. Beach, a claims expert hired by the aviation companies who spent hours explaining to the court how the loss was calculated.

In court papers, both sides have accused the other of unfairly characterizing their claims. 

Should Hellerstein decide the claims do not correspond with each other, Silverstein would then have to prove liability in a separate trial.

Hellerstein, a Bronx native and U.S. Army veteran nominated to the bench by President Bill Clinton, has presided over a sprawling portfolio of 9/11-related cases.

In January, Hellerstein will hear a trial pitting Cantor Fitzgerald, which lost 658 employees in the attacks, against American Airlines. The financial services firm sued the airline over lost business and the destruction of its offices in the World Trade Center.



Read more: http://www.dailymail.co.uk/news/article-2365931/Larry-Silverstein-World-Trade-Center-owner-trying-sue-airlines-billions-9-11-attacks.html#ixzz2ZF9zwMrL
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With light and love

by on Jul. 16, 2013 at 4:46 PM
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Replies (1-8):
Anonymous
by Anonymous 1 on Jul. 16, 2013 at 4:49 PM

Next time I get into a car accident, I think I will sue the car company.

kailu1835
by Ruby Member on Jul. 16, 2013 at 4:50 PM
What a complete and total idiot. The airlines are not responsible, even by the biggest stretch of imagination you can possibly come up with.
AMCMSM
by Platinum Member on Jul. 16, 2013 at 4:51 PM

 That dude is an a-hole... He is suing Boeing for making the plane. Without the plane they would have not been able to hijackit. He is also suing the airport for not catching the hijackers.... So is Jeep liable for damages for making the car that rear ended me? If Jeep had never made it back in 1996 ....

kimmaylove013
by Bronze Member on Jul. 16, 2013 at 4:51 PM

Ugh I admit I didn't read the article but the first thing that came to mind is, hasn't the statuet of limitations passed? It's been over 10 years

SageAdvice
by on Jul. 16, 2013 at 4:52 PM

 That man is one of the unluckiest business men alive - He had just signed a 99 year contract on the Twin Towers.

He has every right to sue and should win - the airlines failed to maintain safety and control of their planes resulting in a huge loss of life and untold financial loss to him and other businesses - why they may not have known what was going to happen - airlines have been hijacked before and they should have known way back to secure the cockpits -

That being said if he wins they will simply fill bankruptcy.

 

Anonymous
by Anonymous 2 on Jul. 16, 2013 at 4:52 PM

little late to sue isn't it...

Anonymous
by Anonymous 3 on Jul. 16, 2013 at 4:54 PM

Why, after SO many years??

Anonymous
by Anonymous 4 on Jul. 16, 2013 at 4:55 PM
1 mom liked this

While this was a tragedy, it was likely a preventable one. If the airlines are held responsible, you better believe that they will take airline safety and screening much more seriously going forward. 

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