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Genocide lawsuit settled

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  • Genocide lawsuit settled

    Jan 31 2004

    Genocide lawsuit settled

    Beneficiaries of Armenians killed during conflict to be compensated
    $20M by New York Life.

    By Darleene Barrientos, The Leader


    BURBANK — Relatives of those killed during the Armenian Genocide
    could receive a portion of $20 million as soon as this summer after
    New York Life Insurance settled a class-action lawsuit this week.

    The insurance company was accused of withholding money from
    policyholders.

    About 2,400 policies are expected to be paid from the settlement,
    which also calls for $3 million to be split between nine Armenian
    charities, including the Armenian Church of North America Western
    Diocese in Burbank, and the Armenian Educational Foundation in
    Glendale. More money might be given to the charities if policies go
    unclaimed, Los Angeles attorney Brian Kabateck said Wednesday.

    The settlement is the first of its kind stemming from the Armenian
    Genocide, in which an estimated 1.5 million Armenians died at the
    hands of the Ottoman Turks between 1915 and 1923.

    It was not known Wednesday how many residents of Burbank and Glendale
    would be affected by the settlement, but Kabateck estimated hundreds
    could receive some money. About 45% of Glendale's population is of
    Armenian descent while an estimated 10% to 15% of Burbank residents
    are Armenian, according to figures provided by the Armenian National
    Committee's Western Region office in Glendale.

    The lawsuit against New York Life was filed by La Cañada Flintridge
    resident Martin Marootian and 12 other plaintiffs in federal district
    court in Los Angeles in November 1999. The lawsuit asked for the
    names of Armenians who purchased life insurance policies in the
    Ottoman Empire prior to the genocide and to properly compensate the
    beneficiaries of those policies.

    Marootian could not be reached for comment Wednesday.

    A tentative settlement was reached in 2001, but talks fell through,
    New York Life spokesman William Werfelman said.

    Now, both sides have a fair agreement that the court will approve,
    Werfelman said.

    The length of time it took to reach the settlement was because of
    legal issues, community agreement and the legal climate, Kabateck
    said.

    "All those things affected people's judgment in the case. They were
    all paramount in reaching the settlement," Kabateck said.

    The settlement was a fair resolution, but it is only the beginning,
    co-counsel Mark Geragos said.

    "I'm extremely pleased," Geragos said. "This will be the first step
    in collecting money from corporations and companies as a result of
    the Armenian Genocide…. There are others who we will contact and try
    to get them to see the light."

    Ultimately, any amount of money is just not enough, said Ardy
    Kassakhian, a Glendale resident and executive director of the
    Armenian National Committee's western region offices.

    "A large corporation settles for a sum that's relatively
    insignificant for them, but we still have to suffer the stings and
    barbs of [those in denial]," Kassakhian said. "It's just unfortunate.
    This case really has nothing to do with the eventual quest for
    justice."
    Welcome to the HyeClub Forum!

  • #2
    I suggest you all look through the list of people who bought those insurance policies, maybe grandpa/ma bought one? you'll get a piece of the $20mil.






    Does anyone have any detail on how exactly did this insurance buying work? How did the Armenians living in Turkey buy life insurance policies from an American company?

    Was it popular to buy them back then? or did they buy in fear of death?

    Interesting stuff!
    Welcome to the HyeClub Forum!

    Comment


    • #3
      Very interesting.

      My grandgrand mom was from Van... she was a lil kid when turks took her and her family and was going to burn then alive, when Andranik came and safed them...... that's a beautifull and heartbreaking story.., she was telling it to my father.

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