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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."
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."
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