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WTC Rebuild

WTC Developer Says He is Owed Billions from Airlines After 9/11

March 23, 2015 | Michael Barasch

A developer who is rebuilding at the World Trade Center recently told a federal appeals court that he believes he is entitled to billions of dollars from the airline companies involved in the attacks of September 11. The Twin Towers were destroyed on 9/11 and the developer recouped $4 billion in insurance money, but claims he is owed more as a result of the airlines’ poor security which allowed the hijackers to board the planes with box cutters.

His argument is part of an appeal to the 2nd U.S. Circuit Court of Appeals in New York to overturn a lower court ruling that barred him from collecting any further damages against American Airlines Group and United Continental Holdings, the companies whose planes were used to carry out the attacks. The airline companies have responded that the insurance money is enough to compensate him for his losses.

The appeal is just the latest step in a legal battle that has raged on for years. Allegedly, part of the developer’s lease at the World Trade Center required that he rebuild the site. He had signed a 99-year lease in 2001, just weeks before the attacks. Rebuilding has been a costly endeavor and he argues that he is entitled to more money to compensate him for these costs. He has also argued that he should be paid for lost revenue for the time that the site could not be used.

In July 2013, a U.S. District Court ruled against the developer, stating that he could not recover any damages from the airlines. The judge further ruled that the developer had no grounds to collect the money his insurance company collected from the airlines.

The financial costs of 9/11 have been staggering, and people have suffered both property damage and health complications. If you believe you have a legitimate injury claim related to 9/11, contact the New York attorneys at Barasch, McGarry Salzman & Penson today to learn your legal rights.

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