9/11 lawsuit finally settled.......
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Glory Days
http://www.upi.com/Top_News/US/2013/12/14/Cantor-Fitzgerald-American-Airlines-agree-to-settle-911-lawsuit/UPI-90931386997740/?spt=rln&or=1
Really, they sued the airlines. wow. maybe the airlines should counter sue saying that Cantor Fitzgerald should have known that since the World Trade Center was already the target of a terrorist attack, they should have been prepared for the possibility of another one. -
ohiobucks1
If this interests you, look up In Re September 11th.
A guy bought the towers for like 2.8 billion, a few months before the attacks. After the attacks he sued the Airlines for negligence and it's rumored that they settled for close to a billion. When that's added to his insurance money, I bet he came out smelling like roses. -
Glory Days
that's crazy. either I am missing something or the lawyers for the airline suck.ohiobucks1;1553348 wrote:If this interests you, look up In Re September 11th.
A guy bought the towers for like 2.8 billion, a few months before the attacks. After the attacks he sued the Airlines for negligence and it's rumored that they settled for close to a billion. When that's added to his insurance money, I bet he came out smelling like roses. -
ohiobucks1
Glory Days;1553390 wrote:that's crazy. either I am missing something or the lawyers for the airline suck.
Yeah, honestly I think it was a product of the policy people wanted to see -
gut
Doubt it is so cut and dry...I don't know what he had it insured for, probably appraisal or re-construction costs (nearly $4B) so might not have made much there. So he got $1B from the airlines, but he lost YEARS of rents (@ $200M/yr, before operating expenses)...in addition to $100M annually he had to pay the Port Authority.ohiobucks1;1553348 wrote: I bet he came out smelling like roses.
I'm sure someone analyzed it somewhere - the insurance payments were capped at @$4.5B in total, but there were additional appeals and also some $800M (split between Silverstein and the Port Authority) that they claimed the insurers did not pay. He also got financing help below market rates, I believe.
So it's very complex. I doubt he lost money in the deal, but I also doubt he made out like a bandit. Silverstein claims he lost like $8B+ in total. I'm sure that's inflated, but you might be surprised once you factor in the original interest/principal payments of the $3.2B he financed in the purchase. -
O-Trap
ccrunner609;1553556 wrote:... could of ...
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thavoice
or maybe he was the real mastermind behind 9/11. Sort of like the person who takes out alot of insurance on their spouse and then has him/her killed.ohiobucks1;1553348 wrote:If this interests you, look up In Re September 11th.
A guy bought the towers for like 2.8 billion, a few months before the attacks. After the attacks he sued the Airlines for negligence and it's rumored that they settled for close to a billion. When that's added to his insurance money, I bet he came out smelling like roses.