(AP) - Five Armenian charities received checks for $333,333 each Wednesday as part of an insurance settlement with descendants of Armenians massacred 90 years ago by the Turks.
The checks are part of a $20 million (¤15.28 million) settlement with New York Life Insurance Co., which issued 2,300 policies to Armenians in Turkey before 1915 that were
never paid, according to plaintiffs' attorney Brian Kabateck.
The agreement set aside at least $11 million for descendants, $3 million for charities and $2 million for administrative costs. Four charities in Los Angeles will receive the rest of the $3 million. Descendants of the policy holders have until March 16 to file claims.
The settlement, approved last year by a federal judge in Los Angeles, is believed to be the first involving the events of the era.
(AP-Photolur photo: Joseph Basralian, far left, representing the Armenian General Benevolent Union, Andrew Torigian, second from left, representing the Armenian Missionary Association of America, Sam Mikaelian, center, representing the Armenian Church of America, Rev. Anoushavan Tanielian, second from right, representing the Armenian Apostolic Church, and Bishop Manuel Batakian, far right, representing the Apostolic Exarchate for Amenian Catholics, each hold checks their organizations received during a news conference in New York on Wednesday.)
The checks are part of a $20 million (¤15.28 million) settlement with New York Life Insurance Co., which issued 2,300 policies to Armenians in Turkey before 1915 that were
never paid, according to plaintiffs' attorney Brian Kabateck.
The agreement set aside at least $11 million for descendants, $3 million for charities and $2 million for administrative costs. Four charities in Los Angeles will receive the rest of the $3 million. Descendants of the policy holders have until March 16 to file claims.
The settlement, approved last year by a federal judge in Los Angeles, is believed to be the first involving the events of the era.
(AP-Photolur photo: Joseph Basralian, far left, representing the Armenian General Benevolent Union, Andrew Torigian, second from left, representing the Armenian Missionary Association of America, Sam Mikaelian, center, representing the Armenian Church of America, Rev. Anoushavan Tanielian, second from right, representing the Armenian Apostolic Church, and Bishop Manuel Batakian, far right, representing the Apostolic Exarchate for Amenian Catholics, each hold checks their organizations received during a news conference in New York on Wednesday.)