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ANKARA: Armenia Heirs Win $17m Axa Payout While Turkey Protests

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  • ANKARA: Armenia Heirs Win $17m Axa Payout While Turkey Protests

    ARMENIA HEIRS WIN $17M AXA PAYOUT WHILE TURKEY PROTESTS

    Journal of Turkish Weekly
    Oct 16 2005

    Cezmi ERSUZER, Turgut YENI and Jan SOYKOK, JTW (LOS ANGELES,
    ANKARA and LONDON) - The descendants of Armenians who died in the
    late Ottoman period have agreed to settle a class-action lawsuit
    against French insurance giant Axa. The case, filed in California,
    accused Axa of failing to pay death benefits on policies bought by
    Armenians who died. Under the deal, the firm will pay $17m (£9.7m)
    to Armenian charitable groups.

    Armenians say 1.5m of their people were killed or deported under
    Ottoman Turkish rule in 1915. Turkey does not accept there was
    a systematic massacre. Turkish historians and documents say more
    than 520.000 Turkish people were massacred by the armed Armenian
    groups and many Armenians were killed in the communal clashes and
    war circumstances.

    Under the terms of the settlement, announced in Los Angeles, Axa will
    donate at least $3m to selected French-based Armenian charities.

    Another $11m has been earmarked for the heirs of policyholders with
    subsidiaries of Axa that operated in the Ottoman Turkish Empire
    before 1915.

    Axa is a French company and there is a strong Armenian diaspora
    in France. Yesim Sahiner from ISRO says that Axa has no choice but
    compromise: "The Axa company will pays millions of dollars, but it
    will earn more. There are more than 300.000 Armenians in France and
    they have close friends in the Government and political circles. By
    the way California is home for another strong-Armenian diaspora in
    the world" Sahiner added.

    'ULTIMATE GOAL'

    In the chaos that followed the killings, many were unable to obtain
    their insurance proceeds, lawyers for the claimants said. Most of the
    Armenians died due to the bad weather, famine and communal clashes,
    while about 1 million Armenians reached Syria, Caucasia and other
    destinations. Hundreds of thousands of Armenians joined the Russian
    side against their state during the First World War.

    The Axa settlement is expected to be approved by California's District
    Court in November. The US state is home to the world's largest
    population of Armenians outside their own country. The Armenian
    diaspora's population is bigger than population of Armenia.

    The diaspora is also more powerful than Armenia in terms of finance
    and political influence.

    Dr. Sedat Laciner, Turkish Armenian expert and director of ISRO,
    says the Armenian Diaspora has a secret agenda. "The diaspora tries
    to get territory and great economic compensations from Turkey. They
    follow the Jewish example. They see the 1915 events a great chance
    to get economic and political advantages." Dr. Laciner added. However
    Laciner argues that the way Armenians follow is wrong: "They actually
    harm Turkey-Armenia relations and make the life harder for Armenia.

    They just focus on their own interests instead of focusing on Armenia's
    security and economy."

    TURKS ARE ANGRY

    Axa has not yet commented on the deal, which will be administered in
    France. The company has business in Turkey and Turkish media argues
    that the Turkish partner Oyak has to end the co-operation with Axa.

    The French Insurance giant, AXA's, announcement to pay compensation
    to the Armenians in the US, who went to court with the allegation
    of "genocide," drew great reactions in Turkey. The French company
    owns 50 percent of AXA-OYAK (the Turkish Armed Forces Pension Fund)
    partnership in the Turkish insurance sector, which added a new
    dimension to the issue. Non-governmental organizations asked OYAK
    to give an end to the partnership. Turkish Grand Union Party (BBP)
    leader Muhsin Yazicioglu termed the issue as "a very serious situation"
    and called OYAK to break up with the French company.

    Turkish Jurists Association Board of Directors member Kemal Kerincsiz
    underlined that the material benefits are not important in this
    matter. The development drew reaction also in Zonguldak Eregli
    where Erdemir facilities, in which OYAK proposed $2.77 billion, is
    situated. Chamber of Commerce and Industry Chairman Ahmet Likoglu said,
    "This is unacceptable."

    In Zaman's headline "OYAK's Partner AXA Agrees to Pay $17 Million
    to Heirs of Armenians" on Friday, it was noted that the relatives
    of the Armenians, who lost their lives during the forced migration
    in 1915, had filed a class-action against AXA in California. The
    French company agreed to pay $17 million to the plaintiffs before the
    case was concluded. The Armenians that went to the court said their
    relatives had life insurance from AXA during the Ottoman era and
    asked for compensation on allegations that they "died in the genocide".

    Regarding OYAK's French partner's acceptance to pay compensation to
    the Armenians with the allegation of "genocide," BBP leader Muhsin
    Yazicioglu said it was "a very serious situation;" paying compensation
    can be considered natural in legal terms he said, but that making
    this payment under the name of genocide is thought-provoking.

    Can Baydarol from Istanbul Commerce University expressed the OYAK-AXA
    relationship must absolutely be revised. The world view represented
    by OYAK is clear, Baydarol reckoned.

    Kemal Cetinoglu from Ankara-based ISRO told the JTW that "it is
    ironic. OYAK is a army company and now they have business with AXA.

    Turkish people are very angry about the decision. They may protest
    the company. I am sure that the decision will harm Axa's business
    in Turkey." According to Cetinoglu, the business opportunities in
    France and US are more important for the Axa company. "That's why they
    accepted the Armenian allegations though they know that the claims are
    baseless. They just consider how much they will earn or lose" he added.

    ANY COMPENSATION MUST BE PREVENTED

    Turkish Ankara Chamber of Commerce (ATO) Chairman Sinan Aygun said the
    issue of forced migration will develop against Turkey if OYAK's French
    partner AXA pays the compensation to the Armenians. Aygun, who defended
    that this must not be allowed since the rest will follow, said: "The
    result of the compensation will mean that Armenia's dream has come
    true. Here AXA agrees to pay the compensation before the decision
    is ratified by the court. In other words, it accepts the Armenians
    claims. I strongly condemn this." The OYAK Group, he further said,
    must immediately step in and say "We have documents that Armenians
    massacred the Turks" and prevent paying the compensation.

    AXA CASE THE SECOND OF ITS KIND

    The Axa case was the second of its kind to be brought in US courts.

    Earlier, New York Life Insurance Company agreed to pay $20m (£11.4m)
    to descendants of Armenian policyholders who died in 1915.

    Lawyer Mark Geragos said the settlements were "important building
    blocks... [towards]our ultimate goal, which is for Turkey and the US
    to officially acknowledge the genocide".

    Turkey says up to 300,000 Armenians and at least as many Turks died
    during civil strife in eastern Turkey during World War I, but angrily
    rejects the allegation of a "genocide" of Armenians. The Armenians
    rioted against the Ottoman Empire during the First World War while
    the Ottoman armies were in clashes in against the Russian Empire
    Armies. The Armenian armed groups attacked the Ottoman Army and
    villages. The Istanbul Government decided to immigrate the Armenian
    population near the war theatre to the southern provinces until the
    end of the war. However thousands of Armenians lost their lives
    during the 1915 relocation campaign. The bad weather conditions,
    famine, epidemic diseases and communal clashes hit the immigrants.

    Though the government allowed the Armenians to return their home
    when the war ends, many could not return to Anatolia. Most of the
    Armenians in the eastern towns supported the occupying French and
    Russian armies against their Muslim neighbors and this caused great
    clashes between two sides. After the First World War, the Armenians
    argued that they were in war against the Ottoman Empire and they had
    to be included in the peace negotiations. When the Ottoman Empire
    collapsed and Turkish Republic established the new Turkish government
    invited all Armenians to return Anatolia. However most of them had
    immigrated to Armenia, Middle Eastern countries, Western Europe and
    United States. Some Turkish historians argue that more than half
    million of Turkish people were massacred by the Armenians.

    --Boundary_(ID_PdrzWm3zhvYM/qxZV7xQWQ) --
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