Cantor Fitzgerald Asks Court Permission to Activate Lawsuit against American Airlines over 9/11 Deaths

Sunday, January 15, 2012
Sandra Grazioso lost two sons, John and Tim in the Cantor Fitzgerald offices on Sept. 11, 2001 (Photo: Julio Cortez, AP)
Securities firm Cantor Fitzgerald, which lost 658 of its 1,000 employees when its headquarters in Tower 1 (North Tower) of the World Trade Center were destroyed in the September 11, 2001, terror attacks, has asked a federal bankruptcy judge to allow the resumption of its damages suit against American Airlines for failing to properly screen the passengers who boarded American’s flight 11 in Boston.
 
American, whose parent company AMR has been in bankruptcy since November 2011, was entitled by bankruptcy law to an automatic stay, or pause, in the lawsuit’s proceedings, but Cantor Fitzgerald contends that further delay of a case that began more than ten years ago will cause it irreparable harm.
 
Of twenty-one lawsuits claiming property damages as a result of the 9/11 attacks, Cantor Fitzgerald’s is the only one remaining. Claiming damages of about $100 million when it filed suit in June 2005, Cantor Fitzgerald increased that amount in September 2009 to about $1 billion, but reduced it to $945 million the following May. The court disallowed most of those additional damages theories, however, and Cantor Fitzgerald has been ordered to come up with more realistic calculations.
 
Cantor Fitzgerald claims financial injuries in six categories: 1) harm to its brand identity, 2) destrucion of its office, 3) destruction of furniture, artwork and other corporate property, 4) destruction of technological infrastructure, 5) destruction of business records and transactions, and 6) business interruption losses.
-Matt Bewig, David Wallechinsky
 
Court Order Limiting Cantor Fitzgerald’s Permissible Damages (U.S. District Court, Southern District of New York) (pdf)

Airlines and Airport Security Agree to Pay $1.2 Billion for 9/11 Property Damages (by Noel Brinkerhoff, AllGov) 

Comments

Côme 6 years ago
frank, i think you should definitely think about what you stated. thank you for your brave patriotism endeavors, but real life is not only a flag and a national anthem. there are insurances, contracts, guarantees, and let me tell you that american airlines has been properly repaid for their loss by insurance firms etc, so i think that cantor fitzerald claims are totally logical and not reprehensible. the only stunning thing is that the case is not settled after 11 years.
Frank 6 years ago
cantor fitzgerald, you need to seriously reconsider where your priorities lie. the 9/11 attacks were detrimental to the entire united states. this was a tragedy that may or may not have been avoided, but it happened nonetheless. the airline industry as a whole is a target for terrorists every single day and they are always on the lookout for people who mean them harm. it has been a difficult process, but america has moved on and taken the fight to the people who brought the destruction upon us. this lawsuit is only further hurting a company that wants nothing more than to serve and rebuild our great country. that airline lost people and airplanes in those attacks as well, but they can't very well sue the terrorists for their losses. they have had to do what every other american has done, pick up the pieces and move on as best they can. i strongly suggest that you follow the lead of every other company in the united states and do the same.

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