NYC mayor proposes transferring $1B to victims comp fund

02/15/2007 | NYTimes.com

New York Mayor Michael Bloomberg is proposing moving $1 billion from an insurance fund to cover New York City against negligence lawsuits related to the Sept. 11, 2001, terror attacks into a victims compensation fund. Payments from the fund would be made directly to people who claimed they were injured working at ground zero. A judge overseeing the lawsuits is urging lawyers to come to a settlement that would cap liability at $1 billion.

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