SOME 3,000 ARMENIANS APPLY TO AXA FOR COMPENSATIONS

ARMENPRESS
Oct 15, 2007

YEREVAN, OCTOBER 15, ARMENPRESS: An official of the Armenian justice
ministry said over 3000 Armenians from across the world, who are
descendants of life insurances policyholders, issued by the French
Insurance Company AXA to Armenians, who perished during the Armenian
Genocide in the Ottoman empire, have applied for compensations.

The bulk of applications are from Armenians in the USA, Armenia
and France.

The French AXA insurance company has extended the deadline for
descendants of life insurances policyholders until December 20 to apply
for compensations. The previous deadline was October 1 of this year.

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.