World Trade Center developer Larry Silverstein has filed suit against a British insurer and its U.S. spin-off for up to $1 billion in unpaid claims from damages from the 9/11 attack on the Twin Towers.
Silverstein Properties brought its action in New York State Supreme Court against British insurer Royal & Sun Alliance and its U.S. subsidiaries, shortly before they split off from each other.
"As a result of dramatic deterioration in the business and finances of Royal Indemnity and the RSA Group's other U.S. operations, the RSA Group is attempting to walk away from its U.S. insureds, including to WTC policyholders," the suit states.
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