Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Westfield Statement – World Trade Center

Wednesday, 12 September 2001

Westfield Holdings said today the company was shocked at events in the United States overnight.

Since the attack on the World Trade Center the primary focus of the company has been the well-being of the 10 staff working in the building.

At this stage, one New York-based executive is yet to be accounted for.

All other Westfield staff have been confirmed as safe and unharmed.

The thoughts of all at Westfield are with their missing colleague and his family, and with the many thousands of victims and their families who have been affected by these events.

The company is continuing to monitor developments and will be working closely with authorities to gather as much information as possible as the situation is brought under control.

Westfield America Trust’s investment in the retail component of the World Trade Center is fully insured for both capital and loss of income. The insurance cover includes acts of terrorism.

The loss of the World Trade Center is not expected to have a material impact on the distribution of Westfield America Trust.

It is also expected that Westfield Holdings’ earnings will not be materially affected.

In July 2001 Westfield America executed an agreement with the Port Authority of New York and New Jersey to lease the retail component of the twin towers for 99 years. Westfield Holdings was responsible for the management, leasing and development of the retail component of the Center.

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Media Mega Merger: StuffMe Hearing Argues Over Moveable Feast

New Zealand's two largest news publishers are appealing against the Commerce Commission's rejection of the proposal to merge their operations. More>>

Elsewhere:


Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>

ALSO:


Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>

ALSO:

Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>