Judge Rules WTC Developer Not Entitled to Insurers' Recoveries

By David Dankwa, Senior ReporterA federal judge in New York ruled this week that New York developer Larry Silverstein is not entitled to funds that insurers of his World Trade Center properties won from airlines as part of an earlier settlement over the terrorist attacks of Sept. 11, 2001.In July, Judge Alvin Hellerstein of the U.S. District Court for the Southern District of New York issued a similar ruling that thwarted Silverstein’s attempt to recover billions of dollars from several airlines.Silverstein’s firm Silverstein Properties was the leaseholder for buildings in the Worl...