World Trade Center stopped from receiving more insurance money

A federal judge declared that owners of the World Trade Center cannot demand more insurance money for the destruction of the buildings caused by the attacks on September 11. In a non-jury trial, the owners fought to collect more insurance than the $5 billion they had already received. Judge Alvin Hellerstein ruled against developer Larry Silverstein and World Trade Center properties, citing state laws preventing “windfalls and double recovery on the same loss.”

While the judge ruled against the owners of the World Trade Center, he also praised their efforts to recover the area after the attacks. He said, “You were dealt a very severe blow.” According to a spokesman for Silverstein Properties, Larry Silverstein was “deeply disappointed by the ruling.”