Swiss Holocaust Settlement Advances and Swiss Committee Issues Report

On November 29, 1999, holocaust survivors and their supporters reported to a federal judge that they are willing to accept – grudgingly – a $1.25 billion settlement in their lawsuit against Swiss banks. Meanwhile on December 6, 1999, the Swiss banking commission issued their final report, clearing the Swiss bank of systematically looting accounts. U.S. District Judge Edward Korman invited plaintiffs to comment on whether the settlement is fair. Lawyers from both sides claimed the vast majority of the nearly half-million potential plaintiffs worldwide support the settlement, which was reached after more than 14 months of negotiation…[more]