1st Dec 2006 07:00
Millennium & Copthorne Hotels PLC01 December 2006 1 December 2006 Settlement of legal action with insurance advisor Millennium & Copthorne Hotels plc ("M&C") previously announced that it and itswholly-owned subsidiary, CDL Hotels USA, Inc ("CDL"), had filed a legal actionagainst its insurance advisor in October 2005 relating to business interruptionclaims by its hotel properties in New York resulting from the terrorist attackon the World Trade Center on 11 September 2001. M&C is pleased to announce that on 29 November 2006, M&C and CDL entered into anagreement (the "Agreement") with its insurance advisor to resolve the legalaction referred to above. Under the Agreement, CDL will receive a cash amount ofUS$17.5 million on or before 13 December 2006 and the parties to the Agreementhave agreed to a full and final settlement of any and all claims the parties mayhave had against each other arising out of or related to M&C group's 2001 USproperty insurance coverage. Enquiries: Robin Lee 01293 772288Millennium & Copthorne Hotels plc Ben Foster /Charlie Watenphul 0207 831 3113Financial Dynamics This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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