Skip to: Content
Skip to: Site Navigation
Skip to: Search

December 2, 2008 6:14:24 AM CST

Learn about Newser Points »

« Back to the grid | Next story »

Trade Center Insurance Settled

Posted May 23, 07 4:35 PM CDT in US,  Business 

(Newser) – The five-year battle over insurance claims for the World Trade Center was resolved this afternoon, reports the New York Times. The seven insurers disputing the claims settled; $4.55 billion will go towards rebuilding ground zero, which will accommodate the Freedom Tower and three large office buildings.

The only building that wasn't tied up in the insurance snarl, 7 World Trade Center, opened a year ago. The settlement is a victory for New York's new governor, Eliot Spitzer, who helped keep negotiations moving to a conclusion. “This means we can now fund construction, access the financial markets and move on to what should be our primary focus: rebuilding," Spitzer said.

Source New York Times

0 comments | Print E-mail | Digg Seed this on Newsvine Add this link to Del.icio.us StumbleUpon

Related Newser Stories

  • Merrill Quits Talks to Move to Ground Zero

    Jul 17, 08 6:33 AM CDT
    Merrill Quits Talks to Move to Ground Zero Years behind schedule and billions of dollars over budget, the project to rebuild Ground Zero took another blow as struggling brokerage Merrill Lynch—projected as an anchor tenant for one of four planned office buildings—ended talks with the Port Authority and developer Larry Silverstein, reports the New York Times. More »

  • WTC Project Years Behind, Billions Over

    Jun 30, 08 5:59 AM CDT
    WTC Project Years Behind, Billions Over The problem-plagued World Trade Center rebuilding project will be completed years behind schedule and up to $3 billion over budget, reports the Wall Street Journal. Construction of the various elements of the $15 billion complex—which includes a sprawling 9/11 memorial, office towers, a performing arts center, and a transportation hub—have been poorly coordinated, triggering a cascade of delays. More »

  • 9/11 Illnesses Haunt Journalists

    Mar 12, 08 11:52 AM CDT
    9/11 Illnesses Haunt Journalists The helicopter ride through the burning World Trader Center's thick, chemical-laden smoke won Keith Meyers' 9/11 photos a share of the Pulitzer, but he says it cost him his health and career. "I could feel my skin tingling and burning," recalls the former New York Times photographer. Like Meyers, many journalists suffer illnesses matching those of Ground Zero workers, but their plight has drawn less attention—even in the media, reports Photo District News. More »

  • Ground Zero Excavation Slow, Pricey

    Jan 13, 08 10:37 PM CST
    Ground Zero Excavation Slow, Pricey Ground Zero in New York City is a magnet for patriotism, skepticicm and frustration; underground, it continues to be a very costly challenge. Excavation preparatory to rebuilding is moving so woefully slowly that New York's Port Authority has accrued late fees of $300,000 a day since Jan. 1, with penalties of over $13 million due to Silverstein Properties, which will build two office towers on the site.  More »

  • Six Years Later

    Sep 11, 07 5:29 PM CDT
    Six Years Later Relatives gathered at a park near Ground Zero to remember the victims of the World Trade Center attacks today—the first anniversary without a clear blue sky, notes the New York Daily News. It was also the first time the memorial was moved away from the footprints of the towers. "Just so long as we continue to do something special every year," said one victim's aunt. More »

  (Associated Press)
  (Associated Press)
  (Associated Press)
« Prev« Prev | Next »Next » Slideshow

Tags

New York City • Eliot Spitzer • World Trade Center • Ground Zero • insurance companies • Freedom Tower • Larry Silverstein


Loading...

Premium Articles from HighBeam

Find more articles like this

Today's Most Popular

Loading...

Other Home Stories

What is Newser?

2008 Codie Finalist

Face it: there's too much news. At Newser a team of editors and writers culls the most important stories from hundreds of U.S. and international sources and reduces them to a headline, picture, and two paragraphs. It's the Newser guarantee: we can take any report or column or video and pack what you need to know into 120 words or less. Newser's short-form aggregation, visual format, and unique information tools help you get more of the kind of news you want, in a quicker and more entertaining way. And we do it 24/7—you can come back morning, noon, night (and in between) for something new that matters. Read less, know more.

Learn more »