World Trade Centre leaseholder Larry Silverstein has been told that under no circumstances can he claim up $6.4 billion from Swiss Re. According to their calculations, he is entitled to only $4.4 billion at best.

As a result, a New York court has ruled that an independent appraiser be appointed to decide an agreed value of the two buildings. That is proving to be difficult, as Mr Silverstein still believes that the destruction of the two buildings should be counted and compensated as two events.

And comments from Jacques Dubois, Swiss Re’s US chairman and CEO, indicate Mr Silverstein isn’t going to win without a ferocious battle. “Silverstein’s arch over-reaching claims demonstrate that he was pennywise and pound foolish and is now attempting to rectify that mistake by confecting values,” Mr Dubois said.

But no matter what the protagonists say – and there’s a lot of money at stake – courts will decide the final outcome with two trials over the next seven months. The first, a jury trial that begins on November 4, will settle the contractual issues, while the second scheduled for March next year will decide exactly how much Mr Silverstein should get.

As previously reported, the whole issue hinges on whether or not a Willis binder – a “wilprop” – was in place. The wilprop definition limits the payout to one building and one event.