NYS Seal For Immediate Release:
June 26, 2006


Statement On World Trade Center Lawsuit

The rebuilding of the World Trade Center site must progress. The lawsuit filed today by Larry Silverstein and the Port Authority must produce a quick and decisive decision confirming the absolute obligation of these seven insurance companies to make payments critical to the rebuilding of Ground Zero and the restoration of my community, which is still struggling to recover from the terrorist attacks nearly five years ago.

An Assembly public hearing I conducted last month raised the first troubling questions as to whether insurance payments necessary for the construction of the Freedom Tower and other buildings at the World Trade Center site were going to be made promptly.

I wrote each of the companies requesting assurances that the payments be made immediately, stressing that the moneys were vitally important to reconstruction efforts and that any delay would greatly jeopardize the redevelopment of downtown and revitalization of the local economy. Sadly, in most cases, the assurances were not forthcoming.

More delay and frustration will not be tolerated. Time is of the essence. The court must not allow the companies' intransigence to stand in the way of efforts to rebuild Lower Manhattan. A swift, firm ruling to compel these insurance company payments is imperative.