Deutsche Bank loses 2 in court.The City is not responsible to Deutsche Bank Deutsche Bank AG (IPA: /'dɔɪ.tʃə/) (ISIN: DE0005140008, NYSE: DB) (English: German Bank for $500 million in damages related to the World Trade Center attacks, said a federal judge who dismissed two of the bank's lawsuits last week.
In two complaints, Deutsche Bank claimed the City was responsible for damages to its 40-story office building at 130 Liberty St. that sits at the perimeter of ground zero. Both complaints were dismissed by Federal District Judge Alvin Hellerstein Judge Alvin K. Hellerstein is a judge for the U.S. District Court for the Southern District of New York and has been involved in several high-profile cases.
He was nominated by President William J. Clinton on May 15, 1998, to a seat vacated by Louis L. .
Deutsche Bank was dealt another legal blow last week when a New York Supreme Court For the highest appellate court in New York, see .
The Supreme Court of the State of New York is New York State's highest trial court, and is of general jurisdiction. There is a supreme court in each of New York State's 62 counties, although some of the smaller counties share Justice denied its request to expedite its lawsuit against two insurers, Allianz and AXA AXA Anguilla, Anguilla (Airport Code)
AXA Alpha Chi Alpha
AXA Animal Crossing Ahead (online forum community/guide to the game Animal Crossing)
AXA Auxiliary Artery , that it claimed was holding up the redevelopment of ground zero by refusing to settle a claim on 130 Liberty Street property.
The building was severely damaged when it was struck by debris falling from the South Tower of the World Trade Center after the terrorist attacks of Sept. 11, 2001. Deutsche Bank also claimed damages to property it owned at 4 Albany St. and property it leased at 4 World Trade Center in its lawsuit against the City.
"We are pleased the Court has dismissed Deutsche Bank's complaints," said Michael A. Cardozo, New York City New York City: see New York, city.
New York City
City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. corporate counsel. "We believe these complaints have absolutely no factual or legal merit."
"Even if Deutsche Bank decides to re-plead some of its claims, we will continue to vigorously oppose any effort by the company to blame New York City for damages that were, in fact, caused by the terrorists who attacked the World Trade Center--not by the City, who itself was also a victim."
In the lawsuits, Deutsche Bank claimed that the City had been negligent in its inspection, occupancy and control of 1, 2, 4 and 7 World Trade Center. The complaint had charged that the negligence included improper placement of diesel fuel tanks in 7 World Trade Center which, Deutsche Bank argued, exploded and caused 7 WTC's collapse, resulting in a dust and debris plume that damaged the Bank's building. Deutsche Bank also claimed that the City's alleged negligence in the recovery and cleanup efforts in the "Frozen Zone" around the site after the attacks caused extensive damage to its property.
Judge Hellerstein dismissed the fuel-tank related charge, saying that the bank did not include the charge in its preliminary findings. While he also dismissed the claim of negligence against the City, Hellerstein ruled that Deutsche Bank could re-plead the case, but would have to prove that a "special relationship" existed between the bank and the city, in which the city agreed to act on the bank's behalf.
The Court held that the plaintiffs had failed to allege To state, recite, assert, or charge the existence of particular facts in a Pleading or an indictment; to make an allegation.
allege v. any facts showing that the City owed the plaintiffs a "duty of care by reason of a special relationship," a requirement for suing a municipality MUNICIPALITY. The body of officers, taken collectively, belonging to a city, who are appointed to manage its affairs and defend its interests. for negligence in the performance of a governmental function.
Last month, Deutsche Bank, filed another lawsuit against two insurance carriers, Allianz and AXA, to demolish de·mol·ish
tr.v. de·mol·ished, de·mol·ish·ing, de·mol·ish·es
1. To tear down completely; raze.
2. To do away with completely; put an end to.
3. the building that was damaged in the attacks, saying it was too contaminated contaminated,
v 1. made radioactive by the addition of small quantities of radioactive material.
2. made contaminated by adding infective or radiographic materials.
3. an infective surface or object. to be re-occupied.
In it's August 11 court complaint, the bank accused the two insurance companies of holding up the development of the World Trade Center by not agreeing to pay half of the $1.7 billion that the bank is seeking in damages. Two other insurers have already paid $1 billion.
The insurers denied the allegations in court and claimed Deutsche Bank is holding up the process by seeking an over "inflated settlement" and that the building can be reoccupied and renovated.
Last week, New York Supreme Court Justice Richard Lowe denied the bank's request for an expedited trial.
Deutsche Bank refused to comment on the lawsuits or it's legal proceedings All actions that are authorized or sanctioned by law and instituted in a court or a tribunal for the acquisition of rights or the enforcement of remedies. against Allianz and AXA.
The insurers have also invoked a clause in their contracts that permits disputes over cost of damage to be settled through an appraisal conducted by a three-member panel.