Holocaust Heirs Seek Billions From Insurance Companies

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ZURICH, Switzerland: An American lawyer has filed a multi-billion-dollar lawsuit on behalf of 10,000 Holocaust victims and their heirs who purchased insurance from 16 European insurance companies during World War II. The plaintiffs contend that their claims were denied. One of the three Swiss companies named in the lawsuit, Winterthur, said earlier this year that funds from unclaimed wartime policies were eventually paid to Jewish charities and the families of policyholders.

The suit could further muddle the work of Paul Volcker, the former US Federal Reserve chairman who's heading a committee to investigate dormant Holocaust-era bank accounts. Volcker who maintains a seat on the Nestle board alongside three Swiss bank chiefs has been criticized for trying to block a similar lawsuit against Swiss banks, claiming it would interfere with his committee's efforts to recover victims' assets.