Search
 

Deutsche Bank Sues Insurers

NEW YORK CITY-Yet another lawsuit is threatening to slow down the process of rebuilding the Ground Zero area. Deutsche Bank is suing two insurance companies to resolve the fate of 130 Liberty St, which was damaged on Sept. 11.

By Barbara Jarvie | Updated on August 11, 2003

NEW YORK CITY-Deutsche Bank has filed papers in New York State Supreme Court asking the court to determine whether 130 Liberty St. should be demolished, then replaced. The 41-story vacant building was structurally damaged when World Trade Center towers collapsed on Sept. 11, 2001.

The German banking conglomerate is suing Allianz Insurance Co., Axa Corporate Solutions Insurance Co. and Axa Global Risks US Insurance Co., which provided 50% of the building’s insurance coverage. Earlier this year, Deutsche reached an out-of-court settlement with the building’s two other insurers, Chubb Corp. and Zurich Financial Services.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.