In Re September
11TH LITIGATION 590 F.Supp.2d 535 (S.D.N.Y. 2008)
Nature of the Case
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Facts
Silverstein’s corporations owned the leases to the World Trade Center. They affected the purchase of them literally a few months before 9-11. Silverstein’s companies (P) filed suit against the airlines, airport security, and the operator of Boston’s Logan Airport alleging negligence. P asked for $16.2 billion for replacement value. P paid $491 million at the close of escrow, and the present value was $2.595 billion. P valued the leaseholds on its books at $2.84 billion. This part of the case deals with the proper valuation for the damages due to P.
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