Number: 98-699
Title: HOLOCAUST SURVIVOR AND HEIR LAWSUITS TO RECOVER SWISS BANK DEPOSITS
Authors: M. Maureen Murphy, American Law Division 
Abstract: In the wake of all the adverse publicity and with the threat of economic sanctions by various state and local governments, a settlement was reached on August 13, 1998, without a binding court decision, by which Credit Suisse and Union Bank of Switzerland agreed to pay $1.25 billion in four installments. The question of how the settlement funds are to be allocated will be decided after the court appointed Special Master completes a process of notifying potential claimants worldwide and solicits their proposals.
Pages: 3
Date: Updated August 12, 1999