050727 - PILLAGE OF ARMENIAN PROPERTIES: AXA MUST COMPENSATE LEGAL SUCCESSORS OF UNPAID INSURANCE POLICIES

Brussels, Belgium (July 21, 2005) - On the occasion of the 90th anniversary of the Armenian Genocide, Armenians of France and Europe follow with interest the collective action taken in the United States against the AXA insurance company by the legal firm of lawyers Vartkes Yeghyayan, who, in 2004, successfully concluded a similar action against New York Life insurance.

Following the example of the New York Life affair, the action against AXA, lodged in 2002, concerns the insurance contracts subscribed prior to 1915 by Armenians victims of the Genocide between 1915 and 1923 in the Ottoman Empire, with the French insurance company "Union Vie", while the heirs of the victims have not, until today, received any compensation.

It is encouraging, that 90 years after the Genocide, the European and American companies are called upon to explain their past behaviour, as the sums misappropriated by these companies are only a part of the immense damages that our people have been subjected to at the beginning of the 20th century.

Taking account the fact that the accused party in this case is a French company, the members of our community with all its constituents cannot stay indifferent in the face to this initiative.

It is normal that following the example of the New York Life case, this affair leads to a fair resolution and worthy of the 90th anniversary of the planned extermination of the Armenian people. We expect from the executives of the AXA group, to take into consideration this sensitive issue with full sense of responsibilities which demands the tragic circumstances of the genocide.

In addition, we invite European Armenians to address a message to the top management of AXA group where they express all the attention and the interest they have for a fair resolution of this legal proceedings.

V.V