Any Update on Silverstein's Lawsuit?

RedIbis said:
Well, what you see here too often is this idea that Silverstein will have to use the insurance proceeds to rebuild the WTC. It's simply not true.
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Will the insurance company pay him to rebuild if he does not have to do so? Can you give us some actual numbers of pay-outs?

In order to say he "made out like a bandit" you need to show he's better off now than before the event (not just "even"). This would include if the event never happened. Why am I telling you this? This is what you've been dodging for over a year.

:rolleyes:
 
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RedIbis said:
Well, what you see here too often is this idea that Silverstein will have to use the insurance proceeds to rebuild the WTC. It's simply not true.
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As a property owner on the site he needs to, since he's required to pay taxes and fees whether that site is occupied or not. No building + no occupants (no rent payers) = no revenue. Without revenue he's stuck with a deficit in paying whatever leases he has with the Port Authority, and revenue from other properties he owns can only go so far; the same is true for whatever insurance funds he gets. The only way he can ever expect to make any real "profit" from those insurance proceeds would be to sell off the property and git rid of his obligations to it. Legally when he's in possession of insurance money that would basically put him in jail. But even selling it off to gain profit is a dubious move as to whether he'd get any befit from it ignoring the legality

If you're saying this is false or incorrect in any way, then I need more than "it's simply not true" to see where you're coming from.
 
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what are the figures soo far on how much Silverstein received in insurance money compared to how much he has forked over for rebuilding the WTC?
 
RedIbis said:
Do you think Arus is right?
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A year ago you made a claim, and now this latest pathetic dodging is simply beyond the pale.

Don't ask me a question when you refuse to answer questions put to you relating to your affirmative claim.


ANSWER THE QUESTION.
 
Thunder said:
what are the figures soo far on how much Silverstein received in insurance money compared to how much he has forked over for rebuilding the WTC?
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LS invested about 14 million of his own money in the WTC.
He received 4.6 billion in payouts.

About a billion rebuilt WTC 7 and paid off debts from the destroyed WTC 7.

About a billion of the insurance proceeds went to the building of 1WTC, which is owned by the PA.

Silverstein expects public and private financing to cover the cost of two more bldgs, further drowning an already sour real estate market in more unnecessary square footage.

Both 2 World Trade Center and 3 World Trade Center, two soaring towers planned by private developer Larry Silverstein, depend on the economy and his his ability to obtain financing.
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http://online.wsj.com/article/SB10001424052748704436004576299650889672560.html

Two weeks ago, Mr. Bloomberg and Sheldon Silver, the Assembly speaker whose district includes Lower Manhattan, said that work should proceed on two of Mr. Silverstein’s three towers and the developer should invest some of his own money in the buildings.

Mr. Silverstein, who regards the insurance proceeds as his money, has shown no intention of doing so.
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http://www.nytimes.com/2009/05/21/nyregion/21zero.html
 
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Does RedIbis think that Silverstein just pocketed billions of dollars in insurance money? lol
 
Thunder said:
what are the figures soo far on how much Silverstein received in insurance money compared to how much he has forked over for rebuilding the WTC?
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He received $4.3 Billion of the $7 Billion he asked for in his initial insurance settlement

He received $800 million to rebuild WTC 7 which cost $700 million to do so, however his mortgage on WTC 7 is $1.2 billion. WTC 7 wasn't completely done till 2006. In that time he lost revenue for a non-existing building. He's still $300 million shy to pay off his mortgage for WTC 7


It would have cost $7.6 Billion to completely rebuilding the WTC complex in 2002 dollars amounts (over $8 billion today). and the $102 million (conservative number) he lost in rental fees per year for the last 10 years??

Silverstein is still, currently in the hole. DEEPLY in the hole. He's on the order of over $3 billion in the hole.
 
Red seems to forget that he needs to take into the account the loss of income from the past 10 years from rent of 1&2 WTC, and also 5 years of rental income lost on 7WTC.

Yeah, Red, so how again does Silverstein make out like a bandit?

Oh, right, he doesn't.
 
ok, so he got $4.3 billion in insurance, and $800 million to build WTC 7. that's around $5 billion.

how much has he spent rebuilding WTC 7 and the rest of the WTC?

I know that the govt. is paying for some of the construction.
 
Thunder said:
ok, so he got $4.3 billion in insurance, and $800 million to build WTC 7. that's around $5 billion.

how much has he spent rebuilding WTC 7 and the rest of the WTC?

I know that the govt. is paying for some of the construction.
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So you didn't read through any of the links I posted.
 
RedIbis said:
So you didn't read through any of the links I posted.
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I cannot read the WSJ article as I do not have a subscription and I ain't paying for one.

WTC 1 is being paid for by the NYC/NJ Port Authority. Silverstein paid for the rebuilding of tower 7.

Who is paying for the rebuilding of towers 2,3,4, & 5?

Silverstein already spent the $800 million he got for WTC 7. That means he has $4.3 billion left. How much of this money will go to the rest of the construction costs? How will this number compare to his total loss of revenue from the original WTC once everything is said and done?



...you claim Silverstein made out like a bandit on the insurance money for the loss of the WTC. You have yet to provide the hard numbers, as of 5/20/11..to prove this.
 
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No, that's not the one. I think that has to do with the property owners around WTC complex that were damaged after the collapse of the WTC towers

Silverstien's lawsuit got combined with the victim's families cases
 
I find it fascinating that years before all the buildings have been built, all the costs have been paid for, and all the lawsuits have been finalized, someone can argue that Silverstein made out like a bandit.
 
I find it fascinating that RedIbis is essentially accusing Silverstein of insurance fraud, yet does not present his evidence to the insurance companies.

They'd be pretty grateful, I would think.
 
Arus808 said:
No, that's not the one. I think that has to do with the property owners around WTC complex that were damaged after the collapse of the WTC towers

Silverstien's lawsuit got combined with the victim's families cases
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Rats.

Then there's nothing left to do but bow three times toward Toronto and perhaps the Goddess of Legaltainment™ will issue her ruling.
 
Thunder said:
I find it fascinating that years before all the buildings have been built, all the costs have been paid for, and all the lawsuits have been finalized, someone can argue that Silverstein made out like a bandit.
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Clearly Silverstein is a time traveler who looked at the balance sheets in 2099 and decided that it was much more profitable to immediately destroy the buildings in 2001 instead of collecting rent for 99 years. The NWO is even more clever than we originally thought...
 
1337m4n said:
I find it fascinating that RedIbis is essentially accusing Silverstein of insurance fraud, yet does not present his evidence to the insurance companies.

They'd be pretty grateful, I would think.
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The reward would be very large.
 
who destroys a building that earns him hundreds of millions a year in revenue, only to have to spend almost two-decades rebuilding it, while having to pay rent on non-existant property and taking in a giant income loss every year the new buildings aren't ready?

wow...that's quite a scheme. and they say Joos are smart.

;)
 
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