World Trade Centre developer Larry Silverstein and the Port Authority of New York have sued seven insurers, stating they should hurry up and pay the money they owe for buildings destroyed in the 9/11 attacks.

The lawsuit says the insurers are using an April agreement transferring rebuilding duties as a pretext for not paying claims.

“The financing of the redevelopment plan… depends in large on the property/rental value insurance,” the lawsuit says. “These insurers have refused to give assurances that their obligations to pay were unchanged by the deal.”

Mr Silverstein says he hasn’t seen any of the $US3.5 billion ($4.7 billion) owed by the insurers involved, and it is holding up the rebuilding process.

He says the states of New York and New Jersey, the City of New York and the Port Authority have made it clear they will not allow “foot-dragging” insurance companies to impede the revitalisation of Manhattan.

“We expect a quick resolution that will force these insurers to finally pay what they owe.”