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Armenian National Committee of America
888 17th St., NW Suite 904
Washington, DC 20006
Tel: (202) 775-1918
Fax: (202) 775-5648
E-mail: [email protected]
Internet: www.anca.org
PRESS RELEASE
October 12, 2005
Contact: Elizabeth S. Chouldjian
Tel: (202) 775-1918
ANCA STATEMENT ON AXA SETTLEMENT OF ARMENIAN GENOCIDE ERA INSURANCE
CLAIMS
NOTE TO THE EDITOR: Following is the Armenian National Committee of
America (ANCA) statement on the AXA Class Action Lawsuit
settlement dealing with Armenian Genocide era insurance claims.
__________________________________________________ _________________
The Armenian National Committee of America today welcomed the
settlement of a class action lawsuit against AXA Insurance company,
allowing descendents of Armenian Genocide era insurance policy
holders to seek the assets denied to them for far too long. The
historic case is the second of its kind, following the New York
Life Insurance class action case settled in February, 2004. In
both cases, the heirs of genocide-era claim holders were
represented by Yeghiayan and Associates, Geragos and Geragos, and
Kabateck Brown Kellner.
To place this settlement in its proper context, it is important to
note that, while the heirs and grandchildren of Genocide-era policy
holders will now receive some small portion of those funds, we
should remember that those monies were not available when these
orphans of the Genocide needed them the most. Instead, they were
collecting interest in AXA coffers and remained there for some 90
years until this corrective action was taken.
The European affiliates of the ANCA played an important role in
educating the European citizenry in general and the Armenian
community in particular regarding the AXA case, through a media
outreach and a far-reaching email campaign. As part of this
effort, the European Armenian Federation for Justice and Democracy
(EAFJD) initiated a petition campaign to AXA France Supervisory
Board Chairman Claude Bebear, urging the firm to accept a fair
settlement that would extend a measure of dignity and recognition
to the victims wrongfully denied their property for the past nine
decades.
The Armenian American community expects a fair, effective, and
orderly claims process be put in place that fully accounts for each
policyholder and appropriately disburses funds to European Armenian
charities and organizations with a long-standing record of fighting
for the rights of the descendants of Armenian Genocide victims.
While the AXA case is significant in that it recognizes the
legitimacy of the insurance claims of Armenian Genocide victims, it
is by no means related to any claims for the deaths, thefts, bodily
harm, and real and personal property confiscations undertaken by
the government of Ottoman Turkey and the Republic of Turkey between
1915 and 1923, the liability and responsibilities for which
continue to be held by the modern day government of Turkey. Nor
does the damages calculation assigned in this case relate in any
way to those claims, which continue to remain outstanding.
The ANCA remains committed to ensuring that, in time, the Armenian
people will receive the restitution they are owed from all those
who unjustly profited, either directly or indirectly, from the
Armenian Genocide.
888 17th St., NW Suite 904
Washington, DC 20006
Tel: (202) 775-1918
Fax: (202) 775-5648
E-mail: [email protected]
Internet: www.anca.org
PRESS RELEASE
October 12, 2005
Contact: Elizabeth S. Chouldjian
Tel: (202) 775-1918
ANCA STATEMENT ON AXA SETTLEMENT OF ARMENIAN GENOCIDE ERA INSURANCE
CLAIMS
NOTE TO THE EDITOR: Following is the Armenian National Committee of
America (ANCA) statement on the AXA Class Action Lawsuit
settlement dealing with Armenian Genocide era insurance claims.
__________________________________________________ _________________
The Armenian National Committee of America today welcomed the
settlement of a class action lawsuit against AXA Insurance company,
allowing descendents of Armenian Genocide era insurance policy
holders to seek the assets denied to them for far too long. The
historic case is the second of its kind, following the New York
Life Insurance class action case settled in February, 2004. In
both cases, the heirs of genocide-era claim holders were
represented by Yeghiayan and Associates, Geragos and Geragos, and
Kabateck Brown Kellner.
To place this settlement in its proper context, it is important to
note that, while the heirs and grandchildren of Genocide-era policy
holders will now receive some small portion of those funds, we
should remember that those monies were not available when these
orphans of the Genocide needed them the most. Instead, they were
collecting interest in AXA coffers and remained there for some 90
years until this corrective action was taken.
The European affiliates of the ANCA played an important role in
educating the European citizenry in general and the Armenian
community in particular regarding the AXA case, through a media
outreach and a far-reaching email campaign. As part of this
effort, the European Armenian Federation for Justice and Democracy
(EAFJD) initiated a petition campaign to AXA France Supervisory
Board Chairman Claude Bebear, urging the firm to accept a fair
settlement that would extend a measure of dignity and recognition
to the victims wrongfully denied their property for the past nine
decades.
The Armenian American community expects a fair, effective, and
orderly claims process be put in place that fully accounts for each
policyholder and appropriately disburses funds to European Armenian
charities and organizations with a long-standing record of fighting
for the rights of the descendants of Armenian Genocide victims.
While the AXA case is significant in that it recognizes the
legitimacy of the insurance claims of Armenian Genocide victims, it
is by no means related to any claims for the deaths, thefts, bodily
harm, and real and personal property confiscations undertaken by
the government of Ottoman Turkey and the Republic of Turkey between
1915 and 1923, the liability and responsibilities for which
continue to be held by the modern day government of Turkey. Nor
does the damages calculation assigned in this case relate in any
way to those claims, which continue to remain outstanding.
The ANCA remains committed to ensuring that, in time, the Armenian
people will receive the restitution they are owed from all those
who unjustly profited, either directly or indirectly, from the
Armenian Genocide.