AZG Armenian Daily #146, 19/08/2005

Insurance

NO NEWS FOR LEGAL SUCCESSORS OF ‘NEW YORK LIFE INSURANCE’

Azg touched upon the process of getting back the deposits from “New York
Life Insurance” American-French company. As we informed before, a charge
free consulting committee that helped the applicants fill the documents was
created at RA Justice Ministry on September 27, 2004. The documents were to
be sent to the board of the US Resolution Fund. The deadline for the
application submission was February 28. 1211 applications were sent to the
US. and only 13 of them had insurance policies.

Already six months passed from the day the applications were sent. We tried
to find out at RA Justice Ministry whether there is any news for the legal
successors or the inheritors. Ara Saghatelian, spokesperson of RA Justice
Ministry, said that there is no news, adding that they spared no efforts to
achieve positive results. He said that our ministry had the
plenipotentiaries to accumulate and send the applications only, while the
rest of the developments of the procedure depend on the verdicts of the US
courts.

“We have no influence on the procedures that take place in the US,” Mr.
Saghatelian added.

By Gohar Gevorgian