Developer Larry Silverstein will make no decision until well into next year on whether to appeal a federal judge's ruling last week that insurers need not pay $700 million in additional World Trade Center rebuilding costs.
Indeed, Bud Peronne, Mr. Silverstein's representative, said no appeal decision will be made until the appraisal process for determining replacement costs is complete, which he does not expect for several months.
In last week's ruling, U.S. District Court Judge Harold Baer in Manhattan rejected arguments that insurers needed to provide the extra payments for safety and political acceptability as “replacement” costs.
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