A US judge has dealt a blow to World Trade Centre (WTC) leaseholder, Larry Silverstein, in his fight with insurers over the value of his claim arising from the 11 September 2001 attacks.
New York federal court Judge John Martin said in a ruling yesterday that Silverstein will have to appoint an independent appraiser to agree the cost of the damages with the insurers of the WTC.
The decision means Silverstein will have to negotiate the cost of his WTC claim through independent experts, rather than through the courts. Silverstein had claimed the 11 September attacks were two events, allowing him to claim twice on his $3.5bn (£2.2bn) policy.
Silverstein had also argued that because he made a cost submission to insurers in January 2002, the insurers' right to demand an independent appraisal had expired.
However in his ruling Martin said the insurers had not exceeded the time limit for demanding an appraisal of the damages.
The case is expected to close later this week.
