Settlement Likely In Holocaust Insurance Case
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A federal judge said he is likely to approve the settlement that would bring to an end the last of the Holocaust-related litigation pending in federal court in New York.
A decade after survivors and their heirs started filing cases here against European banks, industrial companies, and insurers for profiteering from Nazi atrocities, the last such suit to remain unsettled is against an Italian insurance giant, Assicurazioni Generali.
At a court hearing yesterday, the judge, George Daniels of U.S. District Court in Manhattan, considered whether to delay a proposed settlement for several months to allow researchers time to see if a recently opened archive holds evidence that would bolster claims against Generali.
Generali faces several class-action lawsuits over the unpaid insurance policies that it once held for Holocaust victims.
Lawyers representing most of the plaintiffs have agreed to settle the suits in return for Generali’s offer to pay tens of millions of dollars to a London-based tribunal that pays out Holocaust-era insurance claims.