Legal Opinion
SR International Business Insurance v. World Trade Center Properties, LLC
District Court, S.D. New York
Decided June 8, 2005No. 01 CIV. 9291(MBM)PublishedCited by 13 opinions
1Opinion of the Court
OPINION AND ORDER
MUKASEY, District Judge.
The related entities that have been referred to in this litigation as the Silverstein Parties seek to compel SR International Business Insurance Company (“Swiss Re”) to pay actual cash value (“ACV”) up to its share of a “one-occurrence” policy limit in the amount of $796,467,568 1 plus prejudgment interest, and have moved for a partial summary judgment. Swiss Re argues that (i) the plain language of WilProp provides for an ACV payout only in the event the insured decides not to rebuild; (ii) even if ACV is available regardless of intent to rebuild, it…
2Cases cited23 opinions
- Hartol Products Corp. v. Prudential Insurance Co. of AmericaNew York Court of Appeals · 1943
- (TAN) WORLD TRADE CENTER PROPERTIES, L.L.C., SILVERSTEIN PROPERTIES, INC., SILVERSTEIN WTC MANAGEMENT CO., L.L.C., 1 WORLD TRADE CENTER, L.L.C., 2 WORLD TRADE CENTER, L.L.C., 4 WORLD TRADE CENTER, L.L.C., 5 WORLD TRADE CENTER, L.L.C., WESTFIELD WTC, L.L.C., WESTFIELD CORPORATION, INC., WESTFIELD AMERICA, INC., AND THE PORT AUTHORITY OF NEW YORK AND NEW JERSEY, DEFENDANTS-COUNTER-CLAIMANTS-COUNTER-DEFENDANTS-APPELLANTS-CROSS-APPELLEES, UBS WARBURG REAL ESTATE INVESTMENTS INC., WELLS FARGO BANK MINNESOTA, N.A., AS TRUSTEE FOR THE REGISTERED HOLDERS OF GMAC COMMERCIAL MORTGAGE SECURITIES, INC. MORTGAGE-BACKED PASS-THROUGH CERTIFICATES, SERIES 2001-WTC, AND GMAC COMMERCIAL MORTGAGE CORPORATION, DEFENDANTS-COUNTER-CLAIMANTS-COUNTER-DEFENDANTS-CROSS-APPELLEES v. HARTFORD FIRE INSURANCE COMPANY AND ROYAL INDEMNITY COMPANY, COUNTER-DEFENDANTS-APPELLEES, ST. PAUL FIRE & MARINE INSURANCE CO., COUNTER-DEFENDANT-APPELLEE-CROSS-APPELLANT, SR INTERNATIONAL BUSINESS INSURANCE CO., LTD., PLAINTIFF-COUNTER-DEFENDANT-INTERVENOR, ALLIANZ INSURANCE COMPANY, COPENHAGEN REINSURANCE CO., EMPLOYERS INSURANCE OF WAUSAU, FEDERAL INSURANCE COMPANY, GREAT LAKES REINSURANCE (UK) PLC., GULF INSURANCE COMPANY, HOUSTON CASUALTY CO., INDUSTRIAL RISK INSURERS, LEXINGTON INSURANCE CO., CERTAIN UNDERWRITERS AT LLOYD'S OF LONDON, QBE INTERNATIONAL INSURANCE LIMITED, SWISS REINSURANCE CO. UK LTD., TIG INSURANCE CO., TOKIO MARINE AND FIRE INSURANCE CO., TRAVELERS INDEMNITY COMPANY, TWIN CITY FIRE INSURANCE CO., WÜRTTEMBERGISCHE VERSICHERUNG AG AND ZURICH AMERICAN INSURANCE CO., COUNTER-DEFENDANTS. SR INTERNATIONAL BUSINESS INSURANCE CO., LTD., PLAINTIFF-COUNTER-DEFENDANT, WORLD TRADE CENTER PROPERTIES, L.L.C., SILVERSTEIN PROPERTIES, INC., SILVERSTEIN WTC MANAGEMENT CO. L.L.C., 1 WORLD TRADE CENTER, L.L.C., 2 WORLD TRADE CENTER, L.L.C., 4 WORLD TRADE CENTER, L.L.C., 5 WORLD TRADE CENTER, L.L.C., WESTFIELD WTC, L.L.C., WESTFIELD CORPORATION, INC., WESTFIELD AMERICA, INC., AND THE PORT AUTHORITY OF NEW YORK AND NEW JERSEY, DEFENDANTS-COUNTER-CLAIMANTS-APPELLANTS, UBS WARBURG REAL ESTATE INVESTMENTS INC., WELLS FARGO BANK MINNESOTA, N.A., AS TRUSTEE FOR THE REGISTERED HOLDERS OF GMAC COMMERCIAL MORTGAGE SECURITIES, INC. MORTGAGE-BACKED PASS-THROUGH CERTIFICATES, SERIES 2001-WTC, AND GMAC COMMERCIAL MORTGAGE CORPORATION, DEFENDANTS-COUNTER-CLAIMANTS v. THE TRAVELERS INDEMNITY COMPANY, COUNTER-DEFENDANT-APPELLEE, ALLIANZ INSURANCE COMPANY, COPENHAGEN REINSURANCE CO., EMPLOYERS INSURANCE OF WAUSAU, FEDERAL INSURANCE COMPANY, GREAT LAKES REINSURANCE (UK) PLC, GULF INSURANCE COMPANY, HARTFORD FIRE INSURANCE COMPANY, HOUSTON CASUALTY CO., INDUSTRIAL RISK INSURERS, LEXINGTON INSURANCE CO., CERTAIN UNDERWRITERS AT LLOYD'S OF LONDON, QBE INTERNATIONAL INSURANCE LIMITED, ROYAL INDEMNITY COMPANY, ST. PAUL FIRE & MARINE INSURANCE COMPANY, SWISS REINSURANCE CO. UK LTD., TIG INSURANCE CO., TOKIO MARINE AND FIRE INSURANCE CO., TWIN CITY FIRE INSURANCE CO., WÜRTTEMBERGISCHE VERSICHERUNG AG, AND ZURICH AMERICAN INSURANCE CO., COUNTER-DEFENDANTSCourt of Appeals for the Second Circuit · 2003
- Wards Company, Inc. v. Stamford Ridgeway Associates and Trim Fashions, Inc., Stamford Ridgeway AssociatesCourt of Appeals for the Second Circuit · 1985
- In Re the Estates of CovertNew York Court of Appeals · 2001
- Igbara Realty Corp. v. New York Property InsuranceNew York Court of Appeals · 1984
18 more not listed; retrieve them via the Exa API.
3Cited by13 opinions
- Woodhams v. Allstate Fire & Casualty Co.District Court, S.D. New York · 2010
- Woodhams v. Allstate Fire & Casualty Co.Court of Appeals for the Second Circuit · 2012
- Travelers Indemnity Co. v. Northrop Grumman Corp.District Court, S.D. New York · 2014
- First Roumanian American Congregation v. Guideone Mutual InsuranceDistrict Court, S.D. New York · 2012
- Quaker Hills, LLC v. Pacific Indemnity Co.Court of Appeals for the Second Circuit · 2013
8 more not listed; retrieve them via the Exa API.