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In its court papers, Swiss Re shows how Silverstein first tried to buy just $1.5 billion in property damage and business-interruption coverage. When his lenders objected, he discussed buying a $5 billion policy. Ultimately, he settled on the $3.5 billion figure, which was less than the likely cost of rebuilding. His lenders, led by GMAC, a unit of General Motors (nyse: GM - news - people ), which financed nearly the entire cost of the lease, agreed
Those lease payments have drawn $800 million out of the $4.5 billion insurance settlement since 2001. (The Port Authority has said that money is earmarked for reinvestment into the site.)
Originally posted by SPreston
You have not bothered to research 9-11 at all, you have just joined ATS, and you cannot watch videos, and you want us to waste our time babysitting you? Forget it.