Trade Center Insurance Settled

After 5 years of squabbling, rebuilding can begin in earnest
By Dustin Lushing,  Newser Staff
Posted May 23, 2007 4:35 PM CDT
Trade Center Insurance Settled
'   (Associated Press)

(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. (Read more World Trade Center stories.)

We use cookies. By Clicking "OK" or any content on this site, you agree to allow cookies to be placed. Read more in our privacy policy.
Get the news faster.
Tap to install our app.
X
Install the Newser News app
in two easy steps:
1. Tap in your navigation bar.
2. Tap to Add to Home Screen.

X