Silverstein's attorneys have identified $8.8 billion in damages, according to court records. A breakdown filed by Clifford includes $12.3 billion for the World Trade Center complex, less $4.1 billion in insurance proceeds already received. The claims for World Trade Center 7 total $1.4 billion, but $800 million in insurance proceeds have been paid out.
Yet Clifford said the $8.8 billion replacement cost claim is unrealistically inflated because Tower 1's redevelopment project is being led by the Port Authority.
In a Sept. 17 letter to the judge, Silverstein attorney Richard A. Williamson suggested that a shortage of available funds may result in just 4.4 million square feet of office space being rebuilt at the site, slightly less than half of what was destroyed at that location on Sept. 11.
Williamson said in the meantime "billions of dollars in insurance money" remains in the pockets of insurers of the airline companies, security companies, Boeing, and others who ignored
[COLOR=#339900 ! important][FONT=inherit ! important][COLOR=#339900 ! important][FONT=inherit ! important]government[/FONT][/FONT][/COLOR][/COLOR] warnings about terrorist threats.