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Los Angeles Daily News
Jan 22 2005
Armenian groups split cash
Suit funds to be given
By Naush Boghossian , Staff Writer
Nine Armenian charitable organizations will receive $3 million over
the next two weeks as part of the $20 million settlement between
descendants of Armenians who perished in the 1915 genocide and the
New York Life Insurance Co.
The five organizations on the East Coast will each receive checks for
$333,333.33 during a ceremony Wednesday in New York with California
Insurance Commissioner John Garamendi.
A similar event is being organized in Los Angeles for the four other
organizations.
Officials of the Burbank-based Western Diocese of the Armenian Church
of North America said they have not yet received any official
notification, but will welcome the money when it does come. They plan
to use it for cultural and educational programs.
"It would be a great benefit to the diocese. All these organizations
are building and have the need for funds, and obviously that kind of
contribution to us is going to be very meaningful,' said Armen
Hampar, member of the diocesan council. "We're looking forward to it
and it will certainly enable the diocese to pursue new programs and
enhance the ones that are now in effect.'
The Armenian Education Foundation, based in Glendale, is also slated
to receive a check, and an official for the organization said the
board will decide how to spend the money once they receive it.
The nine organizations, including New York's Armenian General
Benevolent Union and New Jersey's Armenian Missionary Association of
America Inc., were chosen because they were instrumental in helping
Armenians fleeing from the Turkish Ottoman Empire to the United
States during the genocide of 1915, at which time an estimated 1.5
million Armenians were massacred.
"As the grandson of two genocide survivors, I'm particularly pleased
to be handing money to these organizations, because these kinds of
organizations helped my grandparents when they first arrived here,'
said Brian Kabateck, one of the attorneys in the class-action
lawsuit.
A class of 13 plaintiffs filed suit in November 1999 asking that New
York Life divulge the names of Armenians who purchased life insurance
policies in the Ottoman Empire and to properly compensate the
beneficiaries of those policies.
Many of the thousands who purchased insurance policies were massacred
during the genocide and rightful policy heirs were unable to obtain
the insurance proceeds or were not aware they were entitled to
insurance benefits.
The long-running suit was settled for $20 million in January 2004,
including $6 million for attorneys' fees and administrative expenses
and $11 million for the heirs of about 2,400 policyholders.
Now, potential heirs of policyholders have until March 15 to file a
claim for a portion of the settlement.
If not filed by the deadline, their rights will be waived.
"A very important part of the settlement is providing compensation to
the individual families that have been pursuing justice for their
ancestors for all these years,' said Paul Krekorian, who was
appointed by Garamendi to the settlement fund board.
Jan 22 2005
Armenian groups split cash
Suit funds to be given
By Naush Boghossian , Staff Writer
Nine Armenian charitable organizations will receive $3 million over
the next two weeks as part of the $20 million settlement between
descendants of Armenians who perished in the 1915 genocide and the
New York Life Insurance Co.
The five organizations on the East Coast will each receive checks for
$333,333.33 during a ceremony Wednesday in New York with California
Insurance Commissioner John Garamendi.
A similar event is being organized in Los Angeles for the four other
organizations.
Officials of the Burbank-based Western Diocese of the Armenian Church
of North America said they have not yet received any official
notification, but will welcome the money when it does come. They plan
to use it for cultural and educational programs.
"It would be a great benefit to the diocese. All these organizations
are building and have the need for funds, and obviously that kind of
contribution to us is going to be very meaningful,' said Armen
Hampar, member of the diocesan council. "We're looking forward to it
and it will certainly enable the diocese to pursue new programs and
enhance the ones that are now in effect.'
The Armenian Education Foundation, based in Glendale, is also slated
to receive a check, and an official for the organization said the
board will decide how to spend the money once they receive it.
The nine organizations, including New York's Armenian General
Benevolent Union and New Jersey's Armenian Missionary Association of
America Inc., were chosen because they were instrumental in helping
Armenians fleeing from the Turkish Ottoman Empire to the United
States during the genocide of 1915, at which time an estimated 1.5
million Armenians were massacred.
"As the grandson of two genocide survivors, I'm particularly pleased
to be handing money to these organizations, because these kinds of
organizations helped my grandparents when they first arrived here,'
said Brian Kabateck, one of the attorneys in the class-action
lawsuit.
A class of 13 plaintiffs filed suit in November 1999 asking that New
York Life divulge the names of Armenians who purchased life insurance
policies in the Ottoman Empire and to properly compensate the
beneficiaries of those policies.
Many of the thousands who purchased insurance policies were massacred
during the genocide and rightful policy heirs were unable to obtain
the insurance proceeds or were not aware they were entitled to
insurance benefits.
The long-running suit was settled for $20 million in January 2004,
including $6 million for attorneys' fees and administrative expenses
and $11 million for the heirs of about 2,400 policyholders.
Now, potential heirs of policyholders have until March 15 to file a
claim for a portion of the settlement.
If not filed by the deadline, their rights will be waived.
"A very important part of the settlement is providing compensation to
the individual families that have been pursuing justice for their
ancestors for all these years,' said Paul Krekorian, who was
appointed by Garamendi to the settlement fund board.