THE OWNER of the Cond� Nast building in Times Square yesterday lost the latest round in its back-and-forth fight over terrorism insurance, after a Manhattan judge ruled that it must put up millions of dollars until its lawsuit is resolved.
Manhattan Supreme Court Justice Harold Tompkins denied a preliminary injunction requested by the Durst Organization that would have prevented LaSalle National Bank, the building’s mortgage holder, from seizing money to cover the premium on a terrorism insurance policy. The policy will cost an estimated $3.5 million to $5 million a year for $400 million in coverage.
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