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Holocaust Survivors Settlement OK'd
Associated Press
July 26, 2000
A federal judge approved a historic $1.25 billion settlement Wednesday between Swiss banks and more than a half-million plaintiffs who alleged the banks hoarded money deposited by Holocaust victims.
The long-anticipated ruling by U.S. District Judge Edward Korman brings Holocaust victims and their heirs worldwide a step closer to collecting claims against the banks. Korman now must sign off on a plan, still in the works, for dividing and distributing the settlement -- the final phase of a painstaking global campaign to compensate roughly 600,000 claimants.