The terrorist attacks on the World Trade Centre last year have been adjudged by a New York court to be one event. At least, that’s the finding for three insurers battling with WTC leaseholder Larry Silverstein.

Royal & SunAlliance, Hartford and the St Paul have succeeded in convincing a federal judge that they owe Mr Silverstein a total of $112 million, and not twice that amount. Mr Silverstein is claiming a total of $12.2 billion from a consortium of 22 insurers, but the issue has been confused by the fact that a final policy wording wasn’t negotiated before September 11.

The court still hasn’t ruled on the situation of the other insurers, including Swiss Re, which has led the court campaign against Mr Silverstein. Their day in court doesn’t come until November, when the court will begin hearing evidence on whether the contracts in place allowed for one or two events. That trial will stretch into next year.