AXA EXTENDS DEADLINE FOR DESCENDS OF LIFE INSURANCE POLICYHOLDERS
ARMENPRESS
Sep 5, 2007
YEREVAN, SEPTEMBER 5, ARMENPRESS: The French AXA insurance company has
extended the deadline for descendants of life insurances policyholders,
(they were issued Armenians, who perished during the Armenian genocide
in the Ottoman empire) until December 20 to apply for compensations.
The previous deadline was October 1 of this year, but a French court
extended the date.
The Armenian Justice Ministry has also extended the deadline in
Armenia.
Last year AXA agreed to pay $17.5 million to descendants of life
insurance policyholders.
U.S.-based Mark Geragos along with attorneys Vartkes Yeghiayan and
Brian Kabateck had filed a class action lawsuit in a California federal
court against AXA for failing to pay death benefits for the insurance
policies purchased by Armenians in Turkey prior to the 1915.
The proceeds of the agreement, which was mediated by Federal Judge
Dickran Tevrizian, are to be disbursed as follows: Up to $11 million
for the heirs of life insurance policyholders; $3 million to be
contributed to a newly-created French-Armenian charity; and $3 million
for attorneys’ fees and legal/administrative expenses.
From: Baghdasarian