Politics > Politics-USA > Larry Silverstein demands another $800,000,000 - "We're going to make you pay"
| Topic: |
Politics > Politics-USA |
| User: |
"Speeders & Drunk Drivers are MURDERERS" |
| Date: |
13 Mar 2007 10:27:26 PM |
| Object: |
Larry Silverstein demands another $800,000,000 - "We're going to make you pay" |
http://investing.reuters.co.uk/news/articleinvesting.aspx?
type=bankingFinancial&storyID=2007-03-13T050211Z_01_N12373408_RTRIDST_0
_SP_PAGE_012-N12373408-OISBN.XML
http://tinyurl.com/3ct97s
Allianz in Mediation with WTC Developer Silverstein
Tue Mar 13, 2007 5:02 AM BST29
NEW YORK (Reuters) - Allianz (ALVG.DE: Quote, Profile , Research) said
mediators would seek to determine how much it owes the developer of the
World Trade Center, while he led a demonstration against Europe's biggest
insurer for withholding funds.
"We're going to make you pay!" Larry Silverstein shouted in front of a
crowd of about 200 cheering construction workers at a noon rally in
midtown Manhattan on Monday.
Silverstein, who leased the downtown site destroyed on Sept. 11, 2001,
claims Allianz still owes him $553 million and that a second insurer,
Britain's Royal & Sun Alliance (RSA.L: Quote, Profile , Research), owes
him $250 million. He said their reluctance had slowed rebuilding at the
site.
"You can count on some insurance companies to look for every way they can
think of to avoid paying up," said Silverstein, making common cause with
Gulf Coast homeowners who are suing for claims from Hurricane Katrina in
2005.
Allianz spokeswoman Sabia Schwarzer said a mediation process between
Silverstein and the German insurer began on Monday. She said she had no
further details.
Royal & Sun spokesman Kader Bryan said his company would "continue to pay
our obligations as they come due" and that Royal & Sun currently did not
owe Silverstein and the Port Authority any money.
A spokesman for Silverstein declined to comment on the mediation talks.
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