PORT AUTHORITY OF NY AND NJ v. ALLIANZ INS. COMPANY

No. 06 Civ. 5002(MBM).

443 F.Supp.2d 548 (2006)

The PORT AUTHORITY OF NEW YORK AND NEW JERSEY; World Trade Center Properties LLC; Silverstein Properties, Inc.; Silverstein WTC Mgmt. Co. LLC; 1 World Trade Center LLC; 2 World Trade Center LLC; 4 World Trade Center LLC; 5 World Trade Center LLC; and WTC Retail LLC, Plaintiffs, v. ALLIANZ INSURANCE COMPANY; Industrial Risk Insurers; Travelers Indemnity Company; Royal Indemnity Company; Gulf Insurance Company; Zurich American Insurance Co.; and Employers Insurance Company of Wausau, Defendants.

United States District Court, S.D. New York.

August 3, 2006.


Attorney(s) appearing for the Case

Milton H. Pachter, Esq., Megan Lee, Esq., New York City, Timothy G. Reynolds, Esq., Skadden, Arps, Slate, Meagher & Flom LLP, New York City, for plaintiff the Port Authority of New York and New Jersey.

Marc Wolinsky, Esq., Meredith L. Turner, Esq., William Edwards, Esq., Wachtell, Lipton, Rosen & Katz, New York City, for plaintiffs World Trade Center Properties LLC, Silverstein Properties Inc., Silverstein WTC Mgmt. Co. LLC, 1 World Trade Center LLC, 2 World Trade Center LLC, 4 World Trade Center LLC, and 5 World Trade Center LLC.

Blair G. Connelly, Esq., Peter Rosen, Esq., Latham & Watkins, New York City, for plaintiff WTC Retail, LLC.

Dale C. Christensen, Jr., Esq., John J. Galban, Esq., Seward & Kissel LLP, New York City, John B. Massopust, Esq., Richard L. Voelbel, Esq., Zelle, Hofmann, Voelbel, Mason & Gette LLP, Minneapolis, MN, for defendant Allianz Global Risks U.S. Insurance Company.

Catherine M. Colinvaux, Esq., Zelle, Hofmann, Voelbel, Mason & Gette LLP, Waltham, MA, for defendant Allianz Global Risks U.S. Insurance Company.

Barry R. Ostrager, Esq., Mary Kay Vyskocil, Esq., Simpson Thacher & Bartlett LLP, New York City, for defendant Industrial Risk Insurers.

Michael H. Barr, Esq., Sandra D. Hauser, Esq., Edward J. Reich, Esq., Sonnenschein Nath & Rosenthal LLP, New York City, for defendant Royal Insurance Company.

John Eduard Barry, Esq., Wiley Rein & Fielding LLP, Washington, DC, for defendant Zurich American Insurance Company.

Christopher Stephen Finazzo, Esq., Michael Joseph Mernin, Esq., Rpbert F. Cossolini, Esq., Budd Larner, P.C., New York City, for defendant Employers Insurance Company of Wausau.


OPINION AND ORDER

MUKASEY, District Judge.

This action is the latest but regrettably not the last chapter in the ongoing struggle over the insurance proceeds available to rebuild the World Trade Center complex ("the WTC") destroyed almost five years ago. Plaintiffs ("the Insureds")1 seek a declaration that the "Conceptual Framework" agreed upon to redevelop the WTC will not affect recovery rights under the property insurance...

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