Larry Silverstein to WTC Insurers: "WE'RE GOING TO MAKE YOU PAY!"

Allianz in Mediation with WTC Developer Silverstein
Tue Mar 13, 2007

NEW YORK (Reuters) - Allianz said mediators would seek to determine how much it owes the developer of the World Trade Center, while he led a demonstration against Europe's biggest insurer for withholding funds.

"We're going to make you pay!" Larry Silverstein shouted in front of a crowd of about 200 cheering construction workers at a noon rally in midtown Manhattan on Monday.

Silverstein, who leased the downtown site destroyed on Sept. 11, 2001, claims Allianz still owes him $553 million and that a second insurer, Britain's Royal & Sun Alliance, owes him $250 million. He said their reluctance had slowed rebuilding at the site.

"You can count on some insurance companies to look for every way they can think of to avoid paying up," said Silverstein, making common cause with Gulf Coast homeowners who are suing for claims from Hurricane Katrina in 2005.

(More after the jump...)

Allianz spokeswoman Sabia Schwarzer said a mediation process between Silverstein and the German insurer began on Monday. She said she had no further details.

Royal & Sun spokesman Kader Bryan said his company would "continue to pay our obligations as they come due" and that Royal & Sun currently did not owe Silverstein and the Port Authority any money.

A spokesman for Silverstein declined to comment on the mediation talks.

Brooklyn-Queens Democratic Congressman Anthony Weiner vowed to punish the insurers with fines or operating restrictions if they did not pay up.

"It is time for them to be held accountable," said Anthony Shorris, executive director of the Port Authority of New York and New Jersey, the owner of the World Trade Center site.

The Allianz spokeswoman said the insurer had already paid almost $2 billion in claims from the World Trade Center disaster, settling with all its policyholders except for Silverstein and the Port Authority.

Schwarzer said Allianz has paid Silverstein and the Port Authority almost $550 million and that the developer had more than enough money in the bank to begin construction at the lower Manhattan site.

Royal & Sun recently spun off its U.S. operations to Arrowpoint Capital, a unit run by its U.S. management. Silverstein and the Port Authority have sued, claiming Arrowpoint will not have enough capital to meet their claims.

The Delaware insurance commissioner approved the sale on Feb. 20 over their objections, however, saying Arrowpoint would have enough money to meet its obligations.

© Reuters 2007. All Rights Reserved.


Now that's what I call hutzpah!!! The shyster's building is

deliberately "pulled" in a controlled demolition, it's on video, he's on video blabbing something about it, yet he still wants to collect his full insurance-fraud monies!!!

(How much did Silverstein pay, or what lucrative jobs did he promise to those 200 construction workers to set-up that cheering photo-op for him???)

I'm willing to bet

that at least part of the reason the insurance companies haven't coughed up the money is because they are waiting to see how this whole WTC 7 scandal pans out. Silverstein could eventually be charged with fraud, you know. And/or get the chair.

This 'man' is screaming...

... headlong towards a reinforced concrete wall, with a billion hands holding behind it.

I wonder if he will do so well as a test-bed F4 Fantom Jet into a nuke-bunker block?

More Details and Contact Info in "get it right's" Blog...

Find it     [ HERE ]

Best wishes

Thanks, 911veritas

I didn't notice GIR's blog before I posted this story last night. Also, johndoraemi blogged a letter that he wrote to Allianz, urging them to investigate controlled demolition at the WTC. That letter can be read here:

Dear Allianz,

"We are going to keep up this fight till the end, till the very end... They took it from the top to the bottom. We're gonna take it from the bottom to the top!"
-Dan Wallace


Larry Silverstein is part Human and part Shar Pei Dog.

I'm thinking more like half rat, half skunk

But he DOES resemble a Shar

"We are going to keep up this fight till the end, till the very end... They took it from the top to the bottom. We're gonna take it from the bottom to the top!"
-Dan Wallace