The Abel Danger White House Group announced today that it has linked Mitt Romney and Barack Obama and their erstwhile associates to a fraud on Bombardier Family trusts in respect pf a pass-through insurance claim on a Twin Towers leveraged lease after the 9/11 attacks.
Abel Danger’s Global Operations Director Field McConnell claims that Romney’s Bain Capital and Obama’s Sidley Austin associates placed Bombardier trusts in a leveraged lease with a fraudulent pass-through agreement where Wells Fargo’s Federal Bridge Certification Authority partners used proceeds of GMAC insurance claims to reward small business administration protégés for a double occurrence demolition of the Twin Towers on 9/11.
“http://caselaw.findlaw.com/us-2nd-circuit/1370404.html WORLD TRADE CENTER PROPERTIES WTC WTC UBS GMAC 2001 WTC GMAC v. HARTFORD FIRE INSURANCE COMPANY SR LTD WORLD TRADE CENTER PROPERTIES, L.L.C., Silverstein Properties, Inc., Silverstein WTC Management Co., L.L.C., 1 World Trade Center, L.L.C., 2 World Trade Center, L.L.C., 4 World Trade Center, L.L.C., 5 World Trade Center, L.L.C., Westfield WTC, L.L.C., Westfield Corporation, Inc., Westfield America, Inc., and the Port Authority of New York and New Jersey, Defendants-Counter-Claimants -Counter-Defendants-Appellants-Cross-Appellees, UBS Warburg Real Estate Investments Inc., Wells Fargo Bank Minnesota, N.A., As Trustee for the registered holders of GMAC Commercial Mortgage Securities, Inc. Mortgage-Backed Pass-Through Certificates, Series 2001-WTC, and GMAC Commercial Mortgage Corporation, Defendants-Coun ter-Claimants-Counter-Defendants-Cross-Appellees, v. HARTFORD FIRE INSURANCE COMPANY and Royal Indemnity Company, Counter-Defendants-Appellees, St. Paul Fire & Marine Insurance Co., Counter-Defendant-Appellee-Cross-Appellant, SR International Business Insurance Co., LTD., Plaintiff-Counter-Defendant-Intervenor, Allianz Insurance Company, Copenhagen Reinsurance Co., Employers Insurance of Wausau, Federal Insurance Company, Great Lakes Reinsurance (UK) PLC., Gulf Insurance Company, Houston Casualty Co., Industrial Risk Insurers, Lexington Insurance Co., Certain Underwriters at Lloyd's of London, QBE International Insurance Limited, Swiss Reinsurance Co. UK Ltd., TIG Insurance Co., Tokio Marine and Fire Insurance Co., Travelers Indemnity Company, Twin City Fire Insurance Co., Württembergische Versicherung AG and Zurich American Insurance Co., Counter-Defendants. SR International Business Insurance Co., Ltd., Plaintiff-Counter-Defendant, World Trade Center Properties, L.L.C., Silverstein Properties, Inc., Silverstein WTC Management Co. L.L.C., 1 World Trade Center, L.L.C., 2 World Trade Center, L.L.C., 4 World Trade Center, L.L.C., 5 World Trade Center, L.L.C., Westfield WTC, L.L.C., Westfield Corporation, Inc., Westfield America, Inc., and the Port Authority of New York and New Jersey, Defendants-Counter-Claimants-Appellants, v. The Travelers Indemnity Company, Counter-Defendant-Appellee, Allianz Insurance Company, Copenhagen Reinsurance Co., Employers Insurance of Wausau, Federal Insurance Company, Great Lakes Reinsurance (UK) PLC, Gulf Insurance Company, Hartford Fire Insurance Company, Houston Casualty Co., Industrial Risk Insurers, Lexington Insurance Co., Certain Underwriters at Lloyd's of London, QBE International Insurance Limited, Royal Indemnity Company, St. Paul Fire & Marine Insurance Company, Swiss Reinsurance Co. UK Ltd., TIG Insurance Co., Tokio Marine and Fire Insurance Co., Twin City Fire Insurance Co., Württembergische Versicherung AG, and Zurich American Insurance Co., Counter-Defendants.
…. Because Silverstein Properties is the party that actually obtained the insurance coverage at issue in this case and was the primary insured, for ease of reference all appellants will hereafter be referred to collectively as the “Silverstein Parties.” In July 2001, Silverstein Properties obtained primary and excess insurance coverage for the WTC complex from about two dozen insurers (most of which constitute the appellees and other counter-defendants in this case) in the total amount of approximately $3.5 billion “per occurrence.” In the spring of 2001, Silverstein Properties was the successful bidder on a 99-year lease for the property from the Port Authority. The appellants are numerous entities that have varying property interests in the WTC, including the Port Authority of New York and New Jersey (the “Port Authority”), which owns the property in fee simple, and Silverstein Properties, Inc. and several related entities (“Silverstein Properties”). At issue in this case is the amount of insurance that is recoverable for the total destruction of the WTC that occurred after the buildings were struck by two fuel-laden aircraft that had been hijacked by terrorists. This case arises out of the devastating tragedy that occurred at the World Trade Center (“WTC”) in lower Manhattan, New York, on the morning of September 11, 2001.
Complicating the resolution of this question is the fact that as of September 11, 2001, only one of the many insurers that bound coverage on the WTC had issued a final policy, necessitating an individualized inquiry to determine the terms of the insurance binders issued by each insurer. The answer will determine whether the Silverstein Parties can recover once, up to $3.5 billion, or twice, up to $7 billion, under the insurance coverage. The broad question presented in this case is whether the events of September 11, 2001 constituted one or two “occurrences.” The parties do not dispute that the destruction of the WTC resulted in a loss that greatly exceeded $3.5 billion.
The Silverstein Parties subsequently filed counterclaims against the other WTC insurers, seeking a declaration “that the events of September 11th constituted more than one occurrence under the coverage that the counterclaim-defendant[s] agreed to provide to the Silverstein Parties.” This litigation began on October 22, 2001 when one of the WTC insurers, plaintiff-counter-defendant-intervenor SR International Business Insurance (“SR International”), filed suit against the Silverstein Parties “seek[ing] a judicial declaration of its rights and obligations to all of the insureds under the policy” and a “declaration that the damage to the World Trade Center is one insurance loss.” After an initial assignment to another judge, the action was assigned to District Judge John S. Martin Jr. of the United States District Court for the Southern District of New York for all purposes.”
“[Spoliation inference that Field McConnell’s sister, Kristine Marcy, the then COO of Small Business Administration arranged finance through Wells Fargo using Travelers as surety to reward M/W/S/DBEs and JMSBE for rigging the Twin Towers with incendiaries to support a double-occurrence demolition and a share in GMAC/Wells Fargo’s pass-through insurance claims] Each year, hundreds of certified minority-owned, woman-owned, small and disadvantaged business enterprises (M/W/S/DBEs) play a major role in Port Authority operations—delivering critical services and products that fuel the world's largest airport system, the East Coast's biggest seaport and the region's most active tunnels, bridges, terminals and rapid-transit system, PATH. Now more than ever before, The Port Authority of New York and New Jersey needs regional businesses to help it complete a multitude of multimillion-dollar public works projects, including: Continued development of the World Trade Center site New PATH rail cars and signal system Port Jersey-Port Authority Marine Terminal redevelopment and channel-deepening program for the Port of New York and New Jersey Advancement of the JFK flight delay reduction program Planning for the redevelopment of Newark Liberty International Airport Terminal A and the continued development of Terminal B Development of the Central Terminal Building at LaGuardia Airport and Delta's terminal redevelopment at John F. Kennedy International Airport Stewart International Airport modernization AirTrain overhaul at Newark Liberty International Airport Planning efforts at the Bayonne Bridge at the Goethals Bridge Modernization Program .. Socially and economically disadvantaged individuals are citizens or lawful, permanent residents of the United States and are ethnically defined as Black, Hispanic, Portuguese, Spanish, Asian-Pacific, Asian-Indian, Native American, or who are women – regardless of race or ethnicity – and members of other groups found to be economically and socially disadvantaged by the U.S. Department of Transportation or by the U.S. Small Business Administration. The Janitorial Maintenance Small Business Enterprise Program provides Port Authority-certified JMSBEs the opportunity to compete for janitorial service contracts with companies of similar size and scope. Once certified as a JMSBE, vendors must participate in a prequalification process to determine the firm’s eligibility to bid or submit proposals for future cleaning contracts for general cleaning services. Over each three-year contract cycle, the Port Authority’s Procurement Department awards almost 20 JMSBE contracts ranging from $30,000 to $5.5 million a year. To participate, a janitorial services company must be certified as a small business enterprise that has been in business for three years, has a principal place of business in New York or New Jersey, and has gross sales on average of $16.5 million a year or less. Set-Aside Program The Port Authority reserves certain contracts to be bid out only to New York or New Jersey based Port Authority-certified M/WBEs or SBEs. This enables firms to compete for significant contracts in a limited, competitive environment. .. Web Site Disclaimer © 2001-2012 The Port Authority of New York and New Jersey. All Rights Reserved. The Port Authority of New York and New Jersey (212) 435-7000 • 225 Park Avenue South, New York, NY 10003”
“GMAC stops purchasing mortgage loans in Mass Apparent reaction to AG's lawsuit By Jenifer B. McKim GLOBE STAFF DECEMBER 03, 2011 GMAC Mortgage, one of the nation’s leading lenders, said yesterday that it will end most of its mortgage business in Massachusetts, a day after Attorney General Martha Coakley sued the company and four other major financial firms over their role in the foreclosure crisis. A spokeswoman for GMAC's parent, Ally Financial Inc., said GMAC will no longer buy loans that originated with other lenders and mortgage brokers in Massachusetts, but will honor all commitments made through Monday. She said GMAC will also continue to loan money to individual homeowners in the state, but that accounts for a small percentage of its business "Recent developments have led mortgage lending in Massachusetts to no longer be viable when you add litigation costs," Ally’s Gina Proia said in an apparent reference to Coakley’s legal action. Typically, GMAC buys mortgage loans from other entities, such as community banks, and then collects payments from those borrowers. On Thursday, Coakley filed a suit in Suffolk Superior Court against GMAC, Bank of America Corp., Wells Fargo & Co., Citigroup Inc., and JPMorgan Chase & Co., alleging that they committed mortgage fraud and failed to reduce loan payments for struggling homeowners.”
“Kasowitz, Benson, Torres & Friedman LLP is a national law firm primarily focusing on complex and sophisticated commercial litigation, numbering 375 lawyers. The firm’s highly talented lawyers are committed to pursuing creative, aggressive and innovative approaches to our clients’ most challenging legal matters. Our practice encompasses all areas of litigation, including antitrust, banking, complex financial products, creditors' rights and bankruptcy, employment practices, environmental, family law, general corporate and commercial, insurance recovery, intellectual property, international arbitration, mass tort and product liability, real estate, securities and white collar criminal defense litigation. The firm's real estate and corporate groups handle transactions of substantial complexity and size. The firm has offices in New York, Houston, Atlanta, San Francisco, Miami, Silicon Valley and Newark. Our clients include leading companies in the high-tech .. telecommunications industries, as well as major hedge funds, private equity firms, commercial banks, real estate developers and investors, regulated utilities and individuals. … Aaron H. Marks PARTNER | NEW YORK Aaron's practice focuses on complex commercial litigation, including disputes concerning structured finance and derivatives, lender liability, securities, corporate governance, mass tort and intellectual property. .. Aaron, together with other firm partners, also defended The Port Authority of New York and New Jersey in the trial concerning the Port Authority's liability for the 1993 World Trade Center bombing. .. Notable Representations .. Several of the nation's largest private-equity firms (Apollo Management L.P., Bain Capital, Carlyle Group, Centerbridge Capital Partners, L.P., Clayton, Dubilier and Rice, Fortress Investment Group and TPG Capital) in disputes over acquisitions and acquisition financings for several large leveraged buyout transactions. These disputes have involved the applicability of material adverse change clauses, post-merger insolvency, and specific performance of debt financing commitments.”
“For our Canadian clients, we [Sidley Austin] handle acquisitions and divestitures of all types of businesses in the U.S. We handle capital raising in the U.S. in whatever form, including public and private, debt and equity, project finance, asset-based, and other forms of financing. We handle cross-border joint ventures, investments and real estate and other commercial transactions. We also represent Canadian clients, including the Government of Canada, in various litigation and other adversarial proceedings. A number of our partners have spent more than 25 years representing Canadian businesses in the U.S. … We have represented three of the largest Canadian pension funds in connection with various U.S. investments, including power generating assets, oil exploration, infrastructure and real estate. .. We have represented Bombardier Inc. and its subsidiaries as U.S. counsel in acquisitions, divestitures, financings, securities offerings, securitizations, aircraft and equipment lease financings, commercial contract matters, joint ventures and other transactions. We represented Ontario Teachers Pension Plan [investor with bcIMC and CAI Private Equity Group in Macdonald Dettwiler and Associates, the developer of MindBox leveraged lease and automated debt recovery over Entrust Federal Bridge] and a U.S. infrastructure fund in their joint purchase of ten power generation plants in six countries and continue to represent OTPP as an owner.”
“NEW YORK, March 6, 2007-- Bank of America Business Capital, one of the world's largest asset-based lenders, announced today that it provided a $125 million revolving credit facility to Keystone Automotive Operations, Inc., a leading distributor and marketer of specialty aftermarket automobile parts and accessories. The asset-based loan will be used to refinance existing debt and provide for ongoing working capital needs. The credit facility was fully underwritten by Banc of America Securities. Bain Capital is majority owner of Keystone Automotive Operations. … Bank of America is the No. 1 overall Small Business Administration (SBA) lender in the United States and the No. 1 SBA lender to minority-owned small businesses.”
Please visit links to learn about a Presidential Field election campaign and discover how a McConnell administration would deal with the Romney-Obama fraud on the Bombardier Family trust in re a pass-through insurance claim on the Twin Towers leveraged lease.
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