NEW YORK (Reuters) – The developer of the World Trade Center in New York has reached a $95.2 million settlement of all claims against American Airlines Group Inc, United Continental Holdings Inc and other aviation defendants stemming from the Sept. 11, 2001 attacks, which involved the carriers’ hijacked planes.
Insurers will cover the payout to entities affiliated with Larry Silverstein and his Silverstein Properties, according to settlement papers filed on Tuesday with the U.S. District Court in Manhattan.
The accord requires approval by U.S. District Judge Alvin Hellerstein, who oversees much of the civil litigation stemming from the attacks. It would have totaled $97 million had two of American’s and United’s insurers not become insolvent.
Is this the world’s worst case of insurance fraud…ever?
That’s what many are saying, as the world’s biggest real-estate swindler and the world’s most corrupt judge meet in a Manhattan courtroom on Monday, Tuesday, and Wednesday. At issue: billions of dollars in loot from the demolition of the World Trade Center complex on September 11th, 2001.
World Trade Center owner Larry Silverstein – who confessed on national television to “pulling” World Trade Center Building 7 – will appear in the courtroom of Judge Alvin Hellerstein at 500 Pearl St. in New York City. The non-jury trial, which is expected to last three days, will decide whether Silverstein is entitled to recover $3.5 billion from airlines and airport-related companies, in addition to the $4.9 billion he has already received for his “losses” on September 11th.
The question on everyone’s mind is: Why is Silverstein claiming that airliners destroyed his buildings, when he has already confessed to demolishing at least one of them himself? In the 2002 PBS documentary “America Rebuilds,” Silverstein admitted to complicity in the controlled demolition of WTC-7, a 47-story skyscraper that dropped into its own footprint in 6.5 seconds.
The mysterious destruction of Building 7 has become the Rosetta Stone of 9/11. Virtually all independent experts who have studied the case, including thousands of architects and engineers, agree that the government’s explanation – that a few small office fires somehow destroyed WTC-7 – is a non-starter. Building 7, these experts say, was obviously taken down in a controlled demolition, as Silverstein himself admitted. (A nationwide ad campaign called “Re-Think 9/11” will remind millions of Americans about Building 7 this September.)
Despite his confession to demolishing his own building, Silverstein has already received $861 million from insurers for Building 7 alone, as well as over $4 billion for the rest of the Trade Center complex. That $861 million for WTC-7 was paid on the basis of Silverstein’s claim that airplanes were somehow responsible for making Building 7, which was not hit by any plane, disappear at free-fall acceleration.
The insurance companies are not openly accusing Silverstein of insurance fraud, presumably because doing so would threaten to demolish the 9/11 cover-up and bring down the US and Israeli governments at free-fall speed. But they have gone so far as to call Silverstein’s demand for more money “absurd,” a considerable understatement.
Larry A. Silverstein, who has won nearly $4.6 billion in insurance payments to cover his losses and help him rebuild at the World Trade Center site, is seeking $12.3 billion in damages from airlines and airport security companies for the 9/11 attack.Mr. Silverstein, the developer of ground zero, sought the damages, whose amount was not previously known, in a claim filed in 2004, that says the airlines and airport security companies failed to prevent terrorists from hijacking the planes used to destroy the buildings.
His case was consolidated last week with similar, earlier lawsuits brought by families of some victims of the attack and by other property owners. But in seeking $12.3 billion, he is by far the biggest claimant in the litigation.
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