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NEW YORK CITY-The second circuit court has upheld the jury verdict from December 2004 that ruled the events of Sept. 11 were two separate incidents and the insurance companies should treat them as such. This ruling means Larry Silverstein, president and CEO of Silverstein Properties, is owed $4.6 billion, a representative for Silverstein, tells GlobeSt.com.

In a statement, Silverstein says, “Over the past five years, the World Trade Center insurers have engaged in an all-out campaign to shirk their legal and moral obligation to honor their policies and help finance the rebuilding of the World Trade Center.”

Silverstein goes on to say all the money he receives “has been committed to the rebuilding, including the community-oriented retail planned for the site and the office buildings, 40 percent of which will be owned by government.”

As reported by GlobeSt.com, a trial by jury initially ruled that the events were one incident in May 2004.A second trial reversed the verdict, siding with Silverstein.

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