Silverstein Loses Bid to Collect $3.5 Billion From Airlines for 9/11

[enhanced_deficit]

Strange claim he was making.


Silverstein Loses Bid to Collect $3.5 Billion From Airlines for 9/11 By Mark Hamblett (https://plus.google.com/100877536670672170305/about)

New York Law Journal
July 19, 2013
Southern District Judge Alvin Hellerstein held that developer Larry Silverstein was fully compensated by his own insurers for the cost of rebuilding and the lost lease income since the World Trade Center was destroyed and cannot obtain additional monies because of the alleged negligence of the airlines.



Read more: http://www.newyorklawjournal.com/PubArticleNY.jsp?id=1202611552817&Silverstein_Loses_Bid_to_Collect_35_Billion_From_A irlines_for_911 (http://www.newyorklawjournal.com/PubArticleNY.jsp?id=1202611552817&Silverstein_Loses_Bid_to_Collect_35_Billion_From_A irlines_for_911#ixzz2Zkte9OEW)

[Lord Xar]

Blood sucker parasite

[Warrior_of_Freedom]

these people are never happy, they always want more. I wonder if it's true he got terrorism insurance on the towers like a week before the attack.

[PSYOP]

these people are never happy, they always want more. I wonder if it's true he got terrorism insurance on the towers like a week before the attack.

It's a blatant fact -- he's a piece of shit who knew exactly what was going to happen on that day and he prepared for it.

[oyarde]

Well , I have to say , the part about negligence is accurate unless you think someone should be able to bring down a commercial airliner with a utility knife. I do not think you should.

[mczerone]

Well , I have to say , the part about negligence is accurate unless you think someone should be able to bring down a commercial airliner with a utility knife. I do not think you should.

Besides, the airlines were NOT in charge of security - the federal govt was. And they failed. Sue them.

On the case itself: insurance is a funny thing. If I'm insured against something that's a violation of my property rights, and it happens, have I lost all claim to sue for damages? Does the insurance company have to sue? Couldn't I sue and reimburse the insurance provider for the claim paid out, to keep my premiums low?

Sure, somebody has paid for the damages, but justice has not been done. Insurers shouldn't be a substitute for courts, they should be an ally to protect the proper functioning of your life while the courts work out the details of who's liable.

[ctiger2]

Silverstein

[Fox McCloud]

My kneejerk reaction to this, when I initially read it about 1-3 weeks ago was "what a jerk", but then it occurred to me; the lawsuit being brought against the airlines is hypothetically the same one citizens (under a more free society) could use if adequate security is not provided at shopping malls/restaurants "no guns allowed" zones.

I have mixed feelings on it--I think the bigger entity to blame here is the government, for not allowing pilots to carry guns.

[tasteless]

Weren't the recent toll increases justified by saying they needed the money to build the Freedom Tower? So if this judge ruled that he was fully compensated by insurers, does that mean they'll lower the toll charges?

[greyseal]

New York Law Journal
July 19, 2013
Southern District Judge Alvin Hellerstein held that developer Larry Silverstein was fully compensated by his own insurers for the cost of rebuilding and the lost lease income since the World Trade Center was destroyed and cannot obtain additional monies because of the alleged negligence of the airlines.


Actually, Silverstein operates a Venture Capital firm, same as Mitt Romney, all funds are provided by the Commodity Credit Corporation
( Department of Agriculture) using taxpayer guaranteed funds.
The legislation, pasted below is based on the Food for Peace Act, lawyer speak for third world country disarmament. It has no application in the several states of the union, i.e. government competing with private enterprise.
The Commodity Credit Corporation, is the Department of Defense, and the Armed Forces,. The definition of National Defense, according to the C.C.C., is as follows “To secure the production of oil and to secure the transportation thereof.
Truth be told, the Corporation , acquired right to the “Towers’ through one of its shills, by providing the funds, destroyed the “Towers”, invaded the middle East, to secure the oil in Iraq, and the oil in the Caspian Sea Region. see “a carpet of gold, or a carpet of bombs”. (online)
To obstruct any meaningful investigation, several oil executives were placed on the 9-11 Commission. A coup d’état.

7 U.S.C.
United States Code, 2011 Edition
Title 7 – AGRICULTURE
CHAPTER 50 – AGRICULTURAL CREDIT
SUBCHAPTER VIII – RURAL BUSINESS INVESTMENT PROGRAM
From the U.S. Government Printing Office, http://www.gpo.gov/

SUBCHAPTER VIII—RURAL BUSINESS INVESTMENT PROGRAM
§2009cc. Definitions
In this subchapter:
(1) Articles
The term “articles” means articles of incorporation for an incorporated body or the functional equivalent or other similar documents specified by the Secretary for other business entities.
(2) Developmental venture capital The term “developmental venture capital” means capital in the form of equity capital investments in rural business investment companies with an objective of fostering economic development in rural areas.
(4) Equity capital
The term “equity capital” means common or preferred stock or a similar instrument, including subordinated debt with equity features.
(5) Leverage
The term “leverage” includes—
(A) debentures purchased or guaranteed by the Secretary;
(B) participating securities purchased or guaranteed by the Secretary; and
(C) preferred securities outstanding as of May 13, 2002.
(ii) similar plans not covered by this subchapter that have been established, and that are maintained, by the Federal Government or any State (including by a political subdivision, agency, or instrumentality of the Federal Government or a State) for the benefit of employees.
§2009cc–1. Purposes
The purposes of the Rural Business Investment Program established under this subchapter are—
(1) to promote economic development and the creation of wealth and job opportunities in rural areas and among individuals living in those areas by encouraging developmental venture capital investments in smaller enterprises primarily located in rural areas; and
(2) to establish a developmental venture capital program, with the mission of addressing the unmet equity investment needs of small enterprises located in rural areas, by authorizing the Secretary—
(A) to enter into participation agreements with rural business investment companies;
(B) to guarantee debentures of rural business investment companies to enable each rural business investment company to make developmental venture capital investments in smaller enterprises in rural areas; and
(C) to make grants to rural business investment companies, and to other entities, for the purpose of providing operational assistance to smaller enterprises financed, or expected to be financed, by rural business investment companies.
FOOD FOR PEACE ACT
(Pub. L. 87–128, title III, §384B, as added Pub. L. 107–171, title VI, §6029, May 13, 2002, 116 Stat. 391.)
§2009cc–2. Establishment
In accordance with this subchapter, the Secretary shall establish a Rural Business Investment Program, under which the Secretary may—
(1) enter into participation agreements with companies granted final approval under section 2009cc–3(e) of this title for the purposes set forth in section 2009cc–1 of this title;
(2) guarantee the debentures issued by rural business investment companies as provided in section 2009cc–4 of this title; and
(3) make grants to rural business investment companies, and to other entities, under section 2009cc–7 of this title.
(Pub. L. 87–128, title III, §384C, as added Pub. L. 107–171, title VI, §6029, May 13, 2002, 116 Stat. 391.)
(B) Leverage
An applicant approved under subparagraph (A) shall not be eligible to receive leverage under this subchapter until the applicant satisfies the requirements of section 2009cc–8(c) of this title.
(C) Grants
An applicant approved under subparagraph (A) shall be eligible for grants under section 2009cc–7 of this title in proportion to the private capital of the applicant, as determined by the Secretary.
(Pub. L. 87–128, title III, §384D, as added Pub. L. 107–171, title VI, §6029, May 13, 2002, 116 Stat. 391.)

[oyarde]

My kneejerk reaction to this, when I initially read it about 1-3 weeks ago was "what a jerk", but then it occurred to me; the lawsuit being brought against the airlines is hypothetically the same one citizens (under a more free society) could use if adequate security is not provided at shopping malls/restaurants "no guns allowed" zones.

I have mixed feelings on it--I think the bigger entity to blame here is the government, for not allowing pilots to carry guns.

Once you force the citizens to disarm and they are killed due to utility knives .That is negligent on the parties that disallow personal protection.The airlines themselves restrict weapons , so yeas they are negligent and financially responsible , they assume they burden of protection by taking it away.This Judge is way out of line.