New York Life Likely to Pay Compensations to Genocide Heirs till Yearend

PanARMENIAN.Net - Those who appealed to New York Life insurance company for compensations will to all appearance receive the sums till the New Year, Armenian Insurance Settlement Fund Executive Director Barsegh Takhtalyan told RFE/RL. New York Life agreed to pay off compensations to the heirs of the Armenians who insured their lives and later fell victims of the Armenian Genocide. Bank transfers will be made via the Armenian Insurance Settlement Fund. Lawyer Vadrez Yeghiayan, who represents the interests of the Genocide heirs, said in mid November the company launched payments and all plaintiffs will receive a corresponding notice. However notices have not been received so far. Barsegh Takhtalyan assured that the terms were calculated wrongly but the funds have been already transferred to a corresponding Armenian bank and in the near future the letters will reach the addressees.



Some $3.6 million will be transferred to Armenia. These funds will be distributed among 1254 plaintiffs. $ 2,7 million for 896 plaintiffs was allocated in the United States. The total sum makes $7 million 954 thousand and will be circulated among Armenians from 26 countries. The rest $3 million the lawyers will transfer to charitable organizations.