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Article: Senator set to mediate Deutsche Bank dispute.
- Article from:
- Real Estate Weekly
- Article date:
- November 5, 2003
- Author:
CopyrightCOPYRIGHT 2003 Hagedorn Publication. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Deutsche Bank and its insurer, Allianz, have welcomed the intervention of former U.S. Senate Majority Leader George Mitchell, who has been appointed by Gov. George Pataki to act as mediator between the two.
The bank and the insurer have been deadlocked in a dispute over the fate of 130 Liberty Street at ground zero that the Bank said is a total loss since the Sept. 11 attacks.
The Bank filed suit against two of the insurers in August, accusing Allianz and AXA 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.
However, Allianz claimed Deutsche Bank was ...