One of the reasons we dont like silverstein around here is that he's a double dipper. It appears his greed has compelled him to spend millions from his insurance settlement on lawyers in an attempt to receive double payments on his insurance policies.
"Swiss Re, however, issued a statement shortly before the submission of the settlement offer, which questioned even that figure, stating that, "there are no circumstances under which World Trade Center leaseholder Larry Silverstein can ever recover more than $3.5 billion of insurance proceeds under the coverage purchased." Under this reasoning the actual amount is closer to $2.4 billion. According to Swiss Re this figure is actually "consistent with Silverstein's internal calculations." It also stated that "Pearson Partners, an independent real estate appraiser has estimated the actual cash value of the WTC complex at $2.156 billion under the Willis Property form (WilProp) that Silverstein used to bind the insurance coverage."
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"Swiss Re, however, issued a statement shortly before the submission of the settlement offer, which questioned even that figure, stating that, "there are no circumstances under which World Trade Center leaseholder Larry Silverstein can ever recover more than $3.5 billion of insurance proceeds under the coverage purchased." Under this reasoning the actual amount is closer to $2.4 billion. According to Swiss Re this figure is actually "consistent with Silverstein's internal calculations." It also stated that "Pearson Partners, an independent real estate appraiser has estimated the actual cash value of the WTC complex at $2.156 billion under the Willis Property form (WilProp) that Silverstein used to bind the insurance coverage."
- bill 7-05-2004 7:16 pm