A federal judge has cleared the way for a trial to begin in the case between Zurich American Insurance Company and ABM Industries over the amount of payment for a business interruption loss resulting from the Sept. 11, 2001 terrorist attack on New York's World Trade Center.
At issue is how much ABM, which provided janitorial services to the World Trade Center, is owed under a business interruption policy. The law firm of Anderson Kill & Olick, representing ABM, said the payment could amount to more than $100 million.
In February, a federal appeals court reversed a lower court's decision, capping ABM's recovery ability at $10 million, under a policy sublimit for contingent time element. Judge Jed S. Rakoff, in U.S. District Court in Manhattan, ruled that because ABM did not have an office in the World Trade Center, the higher limit on the policy of $127 million was not available to it.
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