French AXA Bank Sets Deadline for Genocide Survivors’ Claims

PARIS (Combined Sources)–The French AXA bank will pay about $11,5 million as compensation to heirs of Armenia’s who were killed during the Armenian genocide in Turkey.
The news was announced by a team of mainly Armenian lawyers seeking to restore the right of heirs of Armenia’s who held insurance policies, deposits and other assets in some western banks, including AXA, before 1915.
Speaking to a news conference in Yerevan Parsegh Kartalian said he has come here to tell Armenia’s, who have preserved these documen’s, to apply for compensations.
Earlier, the US-based New York Life Insurance Company reached an agreement with plaintiffs’ attorneys to resolve more than 2,000 insurance policies issued to Armenia’s in the Turkish Ottoman Empire prior to 1915. As part of the class action settlement agreement, New York Life paid all valid claims relating to these policies and also contributed at least $3 million to Armenian organizations. The total value of the settlement was $20 million, including administrative costs and plaintiffs’ attorney’s fees.
The list of Armenia’s who had different assets in AXA and insurances policies has 7,000 names. A list of eligible individuals can be found at www.armenianinsurancesettlement.com

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