AS OF JANUARY 17, ABOUT 100 LEGATEES OF GENOCIDE VICTIMS RECEIVE COMPENSATION IN ARMENIA

Noyan Tapan
Armenians Today
Jan 17 2007

YEREVAN, JANUARY 17, NOYAN TAPAN – ARMENIANS TODAY. As of January 17,
the HSBC Bank Armenia paid the compensations of about 100 legatees
of Armenian Genocide victims in Armenia. Noyan Tapan correspondent
was informed about it by Suren Zohrabian, Manager of bank’s Consumer
Service Department.

In his words, more than 1200 legatees of Genocide victims will receive
a compensation in Armenia. Their ancestors had insured their lives at
the New York Life Insurance company. The total amount of compensation
to be given in Armenia is 3 mln 675 thousand USD.

The payments are made on the basis of the reconciliation agreement
signed after the trial on lawsuit of Vardges Yeghiayan advocates office
against the New York Life Insurance company. The document was ratified
on 2004 July 30 and came into force from September 1. The HSBC Bank
Armenia was empowered to make the payments by the Reconciliation
Foundation’s Council.

The compensation process is implemented in 26 countries of the
world. Nearly 8 mln USD has been allocated for this purpose. In total,
the American insurance company has received applications on giving
compensation from 2515 legatees of Genocide victims.

From: Emil Lazarian | Ararat NewsPress