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Armenian Americans sue Turkish government, banks over Genocide losses
by Emil Sanamyan
http://www.reporter.am/index.cfm?objectid=0DFB51D1-9CA7-11DF-9AD00003FF3452C2
Published: Saturday July 31, 2010
At a May 11, 2006, press conference, attorney Mark Geragos, California
State Treasurer Phil Angelides, and attorneys Brian Kabateck and
Vartkes Yeghiayan announce a class action lawsuit on behalf of
descendants of Armenian Genocide victims, against Deutsche Bank and
Dresdner Bank for assets belonging to descendants of Armenian Genocide
victims. Damian Dovarganes / AP
Armenian Genocide discussed in international legal context
In Armenian insurance case, lawyers to ask for rehearing
Washington - Lawyers who have helped secure multi-million dollar
settlements over Genocide-era insurance policies have launched an
unprecedented lawsuit against Turkish government and banks, Associated
Press reported.
In paperwork filed July 29, Los Angeles lawyers Mark Geragos and Brian
Kabateck are seeking class-action status for the suit that would
compensate descendants of victims of the Armenian Genocide for
financial and property losses they suffered.
Original plaintiffs include Garbis Davoyan of Glendale, Calif. and
Hrayr Turabian of Queens, N.Y., and others are expected to join the
suit that charges breach of statutory trust, unjust enrichment, human
rights violations and violations of international law as the Turkish
government expelled its Armenian citizens and ceased their properties.
Defendants
Turkey's government along with its Central Bank and Ziraat
(Agriculture) Bank, Turkey's biggest bank, are named as defendants.
Ziraat Bank was established in 1863 and operated continuously since.
It currently has assets of more than $81 billion and branches in
Moscow and throughout Central Asia.
Established in 1931, Turkey's Central Bank took over central banking
operations from the Ottoman Bank which itself was established in 1856.
Since 1930s, the Ottoman Bank operated as a private bank until it was
incorporated into Garanti Bank, currently Turkey's second largest bank
with $78 billion in assets.
A long process
The suit designation may take up to three years, Mr. Kabateck told AP.
"We are rolling up our sleeves and are going forward," he said.
Turkish officials have not yet reacted to the lawsuit.
In 2000, California state law allowed heirs to Genocide victims to
seek payment on uncollected life insurance policies of dead relatives,
opening the way to lawsuits.
In 2004 and 2005, New York Life Insurance Co. and French insurer AXA
settled for a total of $37.5 million paid to Armenian community
organizations.
But in 2009, as it weighed another insurance case against several
German insurers, the 9th U.S. Circuit Court of Appeals invalidated the
state law on the grounds that it interfered with U.S. foreign policy.
An appeal by Armenian American lawyers is currently pending in that case.
From: A. Papazian
by Emil Sanamyan
http://www.reporter.am/index.cfm?objectid=0DFB51D1-9CA7-11DF-9AD00003FF3452C2
Published: Saturday July 31, 2010
At a May 11, 2006, press conference, attorney Mark Geragos, California
State Treasurer Phil Angelides, and attorneys Brian Kabateck and
Vartkes Yeghiayan announce a class action lawsuit on behalf of
descendants of Armenian Genocide victims, against Deutsche Bank and
Dresdner Bank for assets belonging to descendants of Armenian Genocide
victims. Damian Dovarganes / AP
Armenian Genocide discussed in international legal context
In Armenian insurance case, lawyers to ask for rehearing
Washington - Lawyers who have helped secure multi-million dollar
settlements over Genocide-era insurance policies have launched an
unprecedented lawsuit against Turkish government and banks, Associated
Press reported.
In paperwork filed July 29, Los Angeles lawyers Mark Geragos and Brian
Kabateck are seeking class-action status for the suit that would
compensate descendants of victims of the Armenian Genocide for
financial and property losses they suffered.
Original plaintiffs include Garbis Davoyan of Glendale, Calif. and
Hrayr Turabian of Queens, N.Y., and others are expected to join the
suit that charges breach of statutory trust, unjust enrichment, human
rights violations and violations of international law as the Turkish
government expelled its Armenian citizens and ceased their properties.
Defendants
Turkey's government along with its Central Bank and Ziraat
(Agriculture) Bank, Turkey's biggest bank, are named as defendants.
Ziraat Bank was established in 1863 and operated continuously since.
It currently has assets of more than $81 billion and branches in
Moscow and throughout Central Asia.
Established in 1931, Turkey's Central Bank took over central banking
operations from the Ottoman Bank which itself was established in 1856.
Since 1930s, the Ottoman Bank operated as a private bank until it was
incorporated into Garanti Bank, currently Turkey's second largest bank
with $78 billion in assets.
A long process
The suit designation may take up to three years, Mr. Kabateck told AP.
"We are rolling up our sleeves and are going forward," he said.
Turkish officials have not yet reacted to the lawsuit.
In 2000, California state law allowed heirs to Genocide victims to
seek payment on uncollected life insurance policies of dead relatives,
opening the way to lawsuits.
In 2004 and 2005, New York Life Insurance Co. and French insurer AXA
settled for a total of $37.5 million paid to Armenian community
organizations.
But in 2009, as it weighed another insurance case against several
German insurers, the 9th U.S. Circuit Court of Appeals invalidated the
state law on the grounds that it interfered with U.S. foreign policy.
An appeal by Armenian American lawyers is currently pending in that case.
From: A. Papazian