NU Online News Service, June 10, 3:00 p.m. EDT
An agreement has been reached to settle workers' claims against the World Trade Center Insurance Company for more than $712 million, a $125 million increase over a settlement nixed by a federal judge in March.
Judge Alvin K. Hellerstein, of the U.S. Federal District Court for the Southern District of New York, approved today the settlement, between more than 10,000 plaintiffs and the WTC Captive, that reduces attorneys' fees and increases payments to plaintiffs.
Judge Hellerstein rejected an earlier settlement agreement in March for $657 million in part because he felt attorneys were paid too much. He also felt the captive should pay plaintiffs' attorney fees and other expenses.
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