Thousands of plaintiffs claiming respiratory and other injuries stemming from the response and cleanup to the 9/11 terror attacks at the World Trade Center have been given more time to decide whether to opt-in on a settlement with New York City and its contractors by the World Trade Center Captive Insurance Company. The WTC Captive, established with a $1 billion FEMA grant to help the city and its contractors cover insurance costs associated with the response, has extended the deadline to Nov. 8 from Sept. 8. The terms of the settlement, which could be worth up to $712.5 million, require that 95 percent of the some 10,000 plaintiffs participate in order for it to become effective.
In a release issued yesterday, Christine LaSala, president and CEO of WTC Captive, said more than 50 percent of the plaintiffs have opted-in to date and “less than one-half of one percent” have opted-out. Ms. LaSala said the extension decision was based in part on additional proceedings being held by Judge Alvin K. Hellerstein that could result in adjustments to the settlement funds available to the plaintiffs. One factor is ongoing talks between plaintiffs and non-settling defendants—the Port Authority of New York and New Jersey as well as some 300 contractors who were not insured through the WTC Captive.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
