December 8, 2004
On December 6, a federal jury decided
that the two planes that crashed into the World Trade Center
towers on September 11, 2001, were two separate attacks, entitling
Larry Silverstein, the leaseholder, to approximately $2.2
billion from nine different insurance companies. Had the jury,
in U.S. District Court in Manhattan, decided that the two
planes constituted only a single attack, Silverstein would
only have been paid half of that.
Silverstein lost a first trial regarding insurance payouts
earlier this year, but this new jurys decision means
the developer could ultimately collect $4.6 billion for the
Sept. 11 attacks.
While that decision may still be overturned on appeal, the
promise of more money may attract private investors to the
site, or help Silverstein attract tenants for the two World
Trade Center buildings he is already building, including 7
World Trade Center, where workers completed the steel frame
in October, and at the landmark 1776-foot tall Freedom Tower.
Neither of the buildings has a tenant.