The commissioner announced on behalf of the colony survival of victims of the Armenian Holocaust
The Insurance Commissioner John Garamendi of California announced a settlement in the long term the ongoing disputes between the descendants of victims of the genocide of Armenians and the New York Life Insurance Company. “As late 1800 and early 1900 New York Life sold thousands of lives on insurance ethnic Armenians in the Ottoman Turkish Empire. Many of those who bought policies were killed during a deliberate, systematic and controlled by the State genocide began in April 1915.
Many survivors of these policyholders live in California and I am pleased that the efforts of the parties in this area, finally, serve justice. After lengthy negotiations, I was able to provide a fund of $ 20 million, go to the payment of such claims. New York Life has been generous in its willingness to compromise, a complex, detailed agreement for delays in the past and enjoy both the survivors of Armenia insurance and the Armenian community. Of the $ 20 million fund at least 3 million dollars are spent on the “No / Heirless funds” to charitable organizations whose activities advance court authorizes charitable interests of the Armenian community.
I’m certainly the three members of the Compensation Fund Board and the Board will examine each case of a disaster, in accordance with the standards and criteria set by the committee in collaboration with the parties. Potential candidates are informed about the communication of approval by the Court and published a federal state. Let me also, the two claimants lawyers, Vartkes Yeghiayan and Joe Majarian, Yeghiayan & Associates, Mark Geragos and Shelley Kaufman, Geragos & Geragos, Brian S. Kaba Teck, Teck Kaba & GARRIS, Bill Shernoff and Evangeline GARRIS, Shernoff, Bidart & Darras, New York Life Insurance Company, for their hard work and cooperation in this colony a reality.
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