WTC Developer Sues Airlines for 9/11

Silverstein seeks $12.3B on top of insurance payout
By Rob Quinn,  Newser Staff
Posted Mar 28, 2008 4:30 AM CDT
Developer Larry Silverstein gestures during a design review for the proposed 2 World Trade Center tower on Tuesday, Aug. 7, 2007 in New York.    (AP Photo/Mark Lennihan)
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(Newser) – The developer of the World Trade Center is suing airlines and airport security companies for $12.3 billion to cover his 9/11 losses, CNN reports. Larry Silverstein signed a 99-year lease on the site just six weeks before the attacks. He holds the defendants responsible for failing to prevent the terrorist hijackings that crashed the planes into the buildings.

United Airlines, Continental, American Airlines, Boeing, and the firm that runs Boston's Logan Airport are among the companies being sued by the developer, who has already collected $4.6 billion in insurance payouts. Others who lost property or loved ones in the attacks have filed similar claims, but Silverstein's is the biggest by far. If Silverstein is succesful, an award could push the totals beyond institutions' ability to pay. "There ain't that much insurance," said a lawyer for the airlines.