May 30th - June 3rd, 2011

NY Court Weighs Claims from 1993 Bombing

June 1 -- The Wall Street Journal reports the Port Authority of New York and New Jersey has urged New York’s Court of Appeals to dismiss the remaining liability claims for the 1993 terrorist bombing of the World Trade Center. The lawsuits citing security concerns since 1984, a jury found the agency was negligent for not maintaining a reasonably safe premises and thus was 68 percent at fault. A midlevel court upheld the verdict. Attorney Richard Rothman made the argument that the Port Authority’s claims of governmental immunity for its counter terrorism measures against then unprecedented threats should be upheld.

Deutsche Bank Fire Trial Continues

June 1 – After presenting dozens witnesses against John Gault Corp. foreman Salvator DePaola, 56; Michel Alvo, 52, Galt’s director of asbestos abatement; and Jeffory Melofchik, 49, safety manager for the general contractor Bovis Lend Lease, prosecutors rested their case. The three defendants are facing manslaughter charges in the deaths of two firefighters. The trial expected to take about four months began in late March and is considered on the planned pace, reported DNAinfo. Jurors will hear defense witnesses early next week.

UBS Considers Downtown Move

June 1 – A week after One World Trade Center signed Conde Nast as its anchor tenant, Silverstein Properties’ is in discussions with UBS AG about a possible move to 3 World Trade Center, reported GlobeSt.com. The future Sliverstein tower will rise 71 floors and is scheduled to be ready by 2015.  The investment bank is currently centered in Stamford, CT.

Century 21 Plans Expansion

June 2 –  Marking it’s 50^th anniversary, Century 21 is planning a major expansion of it’s downtown store, reported DNAinfo. It will add approximately 76,000 square feet of new retail space, including; a café, additional dressing rooms and bathrooms. The work is planned to begin later this summer and take a year to complete.