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Old July 18th, 2013, 06:11 AM   #2681
wtcforever
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Airlines, WTC owners square off in NYC court

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Associated Press
Verena Dobnik, Associated Press July 15, 2013

NEW YORK (AP) -- A federal judge began listening to testimony Monday that will help him decide whether the owners of the World Trade Center buildings destroyed in the Sept. 11 attacks can pursue billions of dollars in damages from aviation companies linked to the hijacked planes.

U.S. District Judge Alvin K. Hellerstein in Manhattan plans to announce his decision from the bench as soon as several witnesses conclude testifying in the trial expected to last about three days.

The buildings' owners, World Trade Center Properties, have already received nearly $5 billion in insurance proceeds.

Lawyers for the owners argued during opening statements that the money they already have received does not preclude them from separately pursuing damages against aviation companies.

Attorney Roger Podesta, speaking for companies including United Airlines Inc., US Airways Inc., American Airlines Inc. and its parent company, AMR Corp., said the $3.5 billion being sought for destruction of the twin towers and a third skyscraper would amount to double compensation.

He said an $8.5 billion total recovery would be more than 2 1/2 times the fair value of the buildings that fell.

Attorney Richard Williamson, representing World Trade Center Properties, said accounting and construction experts had assessed damages of at least $7.2 billion from the Sept. 11, 2001 attacks.

"This did not just come out of a hat." he said of the damage figures. "You can't just say, 'I have economic loss.'"

The trade center owners say it has cost more than $7 billion to replace the twin towers and more than $1 billion to replace the third trade center building that fell.

The trial's first witness was Michael S. Beach, a claims expert hired by the aviation companies who spent hours explaining to the court how the loss was calculated.

In court papers, both sides have accused the other of unfairly characterizing their claims.
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Old July 18th, 2013, 09:10 PM   #2682
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any news on the outcome of the court case?
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Old July 18th, 2013, 09:55 PM   #2683
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Quote:
Originally Posted by wtcforever View Post
any news on the outcome of the court case?
Silverstein Denied Right to Seek $3.5 Billion From Carriers
http://www.bloomberg.com/news/2013-0...-carriers.html

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Real estate developer Larry Silverstein was denied the right to seek $3.5 billion from airlines whose planes were hijacked by terrorists and flown into the World Trade Center’s twin towers on Sept. 11, 2001.
U.S. District Judge Alvin K. Hellerstein ruled today after a nonjury trial in Manhattan.
Silverstein’s World Trade Center Properties LLC sued claiming the carriers’ negligence led to the destruction of the towers. The company argued that a previous $4.1 billion insurance payout shouldn’t bar it from seeking damages. The airlines argued that the developer’s losses were covered by insurance and he shouldn’t collect twice.
The case is In Re September 11 Litigation, 0021-MC-101, U.S. District Court, Southern District of New York (Manhattan).
Larry is just going to have to go the old fashioned route and secure an anchor tenant to start this amazing building.
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Old July 19th, 2013, 12:17 AM   #2684
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I love 2 WTC and want to see it start ASAP so the area can return to "normal". However, I am pleased with the ruling. The airlines lost enough as it is on 9/11, and the higher cost for insurance would just be passed on to frequent fliers like myself.
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Old July 19th, 2013, 02:40 AM   #2685
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Originally Posted by Vertical_Gotham View Post
Silverstein Denied Right to Seek $3.5 Billion From Carriers
http://www.bloomberg.com/news/2013-0...-carriers.html



Larry is just going to have to go the old fashioned route and secure an anchor tenant to start this amazing building.
It will happen.
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Old July 19th, 2013, 07:47 AM   #2686
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Silverstein's charge against the carriers was incredibly frivolous. That's like suing the electric company because your bread burnt in the toaster.
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Old July 19th, 2013, 08:15 AM   #2687
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No one was actually holding their breath for this ruling, right? Nothing has changed. I think Silverstein will put something together by the end of next year.
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Old July 19th, 2013, 01:37 PM   #2688
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I think that it will take more than a year. I think that it could take up to five years until he starts construction, but (in time) it will be built.
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Old July 19th, 2013, 01:46 PM   #2689
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3WTC is still far from full either. He will probably still focus on that first?
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Old July 19th, 2013, 02:03 PM   #2690
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I don't think that he'll necessarily focus on that first. I think it will be an issue of funding because even with WPP taking 500k sf in T3, there will still be 2m sf to fill. Therefore, I think that he'll need a commitment of at least 1m sf in T2 before he gets a loan.
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Old July 19th, 2013, 05:21 PM   #2691
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From yesterday on WTC Progress on Facebook. Still a lot of work to do.
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Old July 20th, 2013, 12:56 AM   #2692
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larry should sue!
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Old July 21st, 2013, 04:20 AM   #2693
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this is my favorite render of 2wtc
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Old July 21st, 2013, 05:19 PM   #2694
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Quote:
Originally Posted by Manitopiaaa View Post
Silverstein's charge against the carriers was incredibly frivolous. That's like suing the electric company because your bread burnt in the toaster.
It certainly wasn't supported by Silverstein's previous loss during the insurance suit where his claims of the attacks as two separate incidents was thrown out. His last card to play is with MassPort, the Massachusetts port authority which he's suing over their lack of security at Boston Logan Airport on 9/11. That one could go down in flames too, so to speak...
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Old July 22nd, 2013, 01:42 PM   #2695
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it probably will, unless serious errors were found.
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Old July 22nd, 2013, 04:10 PM   #2696
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If I remember correctly, they caught one or two guys either with knives or they couldn't pass the metal detectors, but they were allowed to pass anyway.
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Old July 23rd, 2013, 02:59 AM   #2697
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Quote:
Originally Posted by wtcforever View Post
this is my favorite render of 2wtc
This is weird, but my favorite renders of 2WTC are from the 432 Park promotional material on their website:



...and...




They're obviously hilariously far, but they're some of the only renders of the completed complex, in the context of the whole skyline... like it was just caught in the background of a photo. It really feels like it belongs.

I guess it also goes to show how important the WTC is, that they go to the trouble of showing it completed in other developers' renders. People are going to be paying a lot of money for that view.
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Old July 23rd, 2013, 01:14 PM   #2698
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I agree. Both are amazing pictures and they show perfectly how the WTC towers fit in the skyline.
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Old July 23rd, 2013, 06:27 PM   #2699
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Quote:
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This is weird, but my favorite renders of 2WTC are from the 432 Park promotional material on their website:

I guess it also goes to show how important the WTC is, that they go to the trouble of showing it completed in other developers' renders. People are going to be paying a lot of money for that view.
I can't remember who here mentioned this.... The people who did the official renders for 432 Park also where the one who did the official renderings for the WTC complex. The company name is Dbox and they do fantastic work.
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Old July 23rd, 2013, 07:29 PM   #2700
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Wow, they really do. Their website is about as spare as possible, but just doing a google search for "dbox render" pulls up some of the most impressive renders out there.

Although, I can't get over how much "dbox" reminds me of a certain SNL Digital Short featuring Lonely Island.

And in that search, I found one more render... or maybe you'd call it more of a drawing, from Foster & Partners, that shows the crown of this building in really excellent detail. Unless someone can confirm otherwise (certainly possible this is outdated), I never noticed that the "diamonds" aren't actually diamonds at all, but oblong parallelograms. And does anyone know whether the floors within the crown -- I'm specifically talking about the spaces in the X-shaped gap between the "diamonds" -- are open to each other inside like an atrium? That's what it looks like to me.

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