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Deutsche Bank Sues Allianz AG And AXA Over Sept. 11 Claim

Last week, Deutsche Bank AG, one of the largest banks in the world, filed a lawsuit against Allianz AG and AXA over a coverage dispute involving its heavily damaged office tower near the World Trade Center site.

In its complaint filed at the New York State Supreme Court in Manhattan, Deutsche Bank argued that its tower, which stood at 130 Liberty Streeta few hundred feet from the WTC complexhas not been used since the Sept. 11 terror attacks and is beyond repair at this point. The company argued that these two insurers, which provide half of the aggregate coverage, should pay for their part of the cost in demolishing and replacing the building.

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