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ANKARA: Banks Respond To US Armenians' Lawsuit

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  • ANKARA: Banks Respond To US Armenians' Lawsuit

    BANKS RESPOND TO US ARMENIANS' LAWSUIT

    Hurriyet
    Sept 29 2011
    Turkey

    Incirlik Air Base, which is now used by the U.S. in the eastern
    Mediterranean province of Adana is also among the Armenian claimed
    properties. Hurriyet photo

    Two Turkish banks have issued their defense in a U.S. lawsuit
    filed by three Armenian-Americans claiming damages for the alleged
    appropriation of their properties by Turkey during the events of
    1915 in the last days of the Ottoman Empire. The Turkish Central
    Bank and state-owned Ziraat Bank issued their pleas on Sept. 19,
    while the Turkish Foreign Ministry, which was also sued, refused to
    state its defense in the suit.

    "Restitution of the property is the plaintiffs' rightful remedy
    in international law for the unlawful expropriation of property,"
    Vartkes Yeghiyan, the plaintiffs' lawyer, told the Hurriyet Daily
    News via e-mail.

    The banks have claimed in their pleas that the Turkish Republic
    founded in 1923 cannot be held responsible for incidents that took
    place during the Ottoman period. The prosecution, on the other hand,
    is asking for $64 million in compensation.

    "In lieu of restitution, plaintiffs are entitled to recovery of
    the current fair market replacement value of the properties, plus
    the accrued reasonable rental value," Yeghiyan said. "This case is
    also important the international community. "Rita Mahtesyan, Anais
    Harutyunyan and Alex Bakalyan filed the suit to reclaim property they
    alleged had been expropriated by Turkey during the events of 1915
    and whose income they say was transferred to the two banks in question.

    The property they wish to claim also includes the Incirlik Air
    Base used by the U.S. in the eastern Mediterranean province of
    Adana. "The government of the Republic of Turkey is benefiting from
    the exploitation of the properties," Yeghiyan said.

    http://www.hurriyetdailynews.com/n.php?n=banks-respond-to-us-armenians8217-lawsuit-2011-09-29

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