Late News; Silverstein recovers proceeds, loses appeal.(Silverstein Properties Inc.)(Farmers Insurance Group to quit medical malpractice coverage)(Travelers Property Casualty Corp. to buy rights to marine lines)
GMAC Commercial Mortgage Corp. has agreed to release about $20 million in business interruption insurance proceeds to World Trade Center leaseholder Silverstein Properties Inc. as the parties seek agreement on a redevelopment plan for the WTC site. After consulting with the judge hearing the dispute over the redevelopment, the parties agreed that GMAC, which administers the mortgage on the property, would continue the business interruption payments and pay October rent. The agreement gives the parties until Oct. 22 to work out a redevelopment agreement. Meanwhile, one day after that agreement with GMAC, Silverstein encountered a setback in its insurance coverage litigation when the 2nd U.S. Circuit Court of Appeals affirmed a lower court ruling that a jury should decide whether the WTC attack was one occurrence or two.
More states consider Canadian drug programs
In what appears to be a growing trend, two state governors last week separately announced plans to study the possibility of importing drugs from Canada for their state workers and …
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