(Photo courtesy of FEMA)

Deutsche Bank, the owner of a 40-story office building that borders New York City’s World Trade Center site, has filed suit against two insurers that are blocking plans to tear down the 1970s-era building. Falling debris from the Sept. 11, 2001, WTC collapse ripped a 15-story gouge in the building, exposing it to contaminants, including asbestos, lead, mercury and PCBs. The suit, filed Aug. 11 in New York State Supreme Court, claims that "the building is a total loss" and asks the insurance firms, Allianz and AXA, to pay half of a $1.75-billion loss. The two insurers maintain that the building could be fit for reoccupancy after repair and abatement. Earlier this year, the bank settled with two other insurers, Chubb and Zurich, for the remaining 50% of coverage.