World Trade Centre leaseholder Larry Silverstein's battle with 20 leading insurers got underway yesterday with Swiss Re claiming it cannot lose.
Swiss Re claimed the insurers couldn't lose their battle with Silverstein, who aims to overturn an earlier judgment that found the destruction of the twin towers was one event for three insurers.
He is claiming the 11 September attacks constituted two events, thus entitling him to a total payout of $7bn (£4.3bn).
Jacques Dubois, chairman, chief executive and president of Swiss Re America, said it was a "no-lose situation". He said "the facts will be included in the main trial, where they will be very beneficial to the insurers' case".
However Silverstein's legal team, led by Marc Wolinsky, said: "We think we are right and are hopeful we will prevail. If we win there will be increased pressure on the insurance companies. If we lose the court will rule that a jury should decide."
A three-judge panel at the federal appeals court will continue with the hearing later today.
