Insurer Lloyd’s Syndicate has withdrawn its massive $215 million lawsuit against the Kingdom of Saudi Arabia and others for providing financing to the 9/11 terrorists.
Lloyd’s attorney Stephen Cozen of Philadelphia said Wednesday that, “I am instructed to make no comments, other than to say the lawsuit was voluntarily dismissed.” The case – filed in U.S. District Court in Johnstown – was dismissed “without prejudice,” a legal term meaning it can be refiled later.
Withdrawing the case could signify any number of things: That the case has been settled, unlikely as it was filed just two weeks ago; that’s it’s being handled through diplomatic channels; or other possibilities.
Whatever the situation, Cozen has retained his sharp tongue where Saudi Arabia – a strategic U.S. ally – and some of its banks and charities are concerned.
“The Saudis have been the single largest funders of terrorism in the world, and continue to be, particularly radical Islamic terrorism,” he said.
Underwriter Lloyd’s sued the Saudis and a few of their banks and charities to recoup money it paid out following 9/11 to insured airlines, jet manufacturers, airport authorities, security companies and other parties.
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