USA: 89-YEAR-OLD AUSTRIAN-BORN MARIA ALTMANN TO RECEIVE PART OF HISTORIC 21 MILLION DOLLAR SETTLEMENT FROM SWISS BANKS COMPENSATING HER FAMILY FOR NAZI-ERA LOSSES

Record ID: 190483

  • Title: USA: 89-YEAR-OLD AUSTRIAN-BORN MARIA ALTMANN TO RECEIVE PART OF HISTORIC 21 MILLION DOLLAR SETTLEMENT FROM SWISS BANKS COMPENSATING HER FAMILY FOR NAZI-ERA LOSSES
  • Date: 14th April 2005
  • Summary: (W2) LOS ANGELES, CALIFORNIA, UNITED STATES (APRIL 14, 2005) (REUTERS) 1. MARIA ALTMANN WITH HER ATTORNEY, E. RANDOL SCHOENBERG 0.02 2. CLOSEUP OF ALTMANN, PAN TO SCHOENBERG 0.07 3. SOUNDBITE (German) MARIA ALTMANN SAYING: "It's very strange for me that a Swiss bank behaved in this way. My best friends are Swiss, and I always thought that Swiss people are remarkably proper. As far as the Austrians, I have experienced myself that this is not the case. But I never suspected it with regards to the Swiss. It's shocking, the story reads like a spy novel." 0.37 (W2)NEW YORK CITY, NEW YORK, USA (APRIL 14, 2005) (REUTERS) 4. VARIOUS OF FEDERAL COURTHOUSE IN BROOKLYN (2 SHOTS) 0.47 5. VARIOUS OF LEGAL DECISION (3 SHOTS) 1.03 (W2)LOS ANGELES, CALIFORNIA, UNITED STATES (APRIL 14, 2005) (REUTERS) 6. PHOTOGRAPHER 1.05 7. SOUNDBITE (German) MARIA ALTMANN SAYING: "Do you know, I'm not a revenge-oriented or mean-spirited person. I always try to find the good in things, and I'm indescribably happy and thankful." 1.22 8. BLACK AND WHITE PHOTO OF MARIA ALTMANN'S FATHER AND MOTHER IN VIENNA BEFORE THE WAR 1.27 (W2)NEW YORK CITY, NEW YORK, USA (APRIL 14, 2005) (REUTERS) 9. EXECUTIVE VICE PRESIDENT OF THE CLAIMS CONFERENCE, GIDEON TAYLOR AT DESK 1.32 10. VARIOUS OF TAYLOR LOOKING OVER LEGAL DECISION (2 SHOTS) 1.38 11. (SOUNDBITE) (English) TAYLOR SAYING: "It's a very important decision. It's important both financially, the amount is large and also symbolically, because for us these cases are about a recognition of what happened and that's is every bit as important as the money." 1.53 (W2)LOS ANGELES, CALIFORNIA, UNITED STATES (APRIL 14, 2005) (REUTERS) 12. ALTMANN'S SON (ON RIGHT), PAN TO ALTMANN AND SCHOENBERG 2.00 13. SOUNDBITE (English) MARIA ALTMANN SAYING: "I'm unbelievably grateful and I just hope that there will be more people that will have the same results if they had any connections with the Swiss banks." 2.18 14. PAN: MEDIA WITH ALTMANN 2.22 Initials Script is copyright Reuters Limited. All rights reserved
  • Embargoed: 29th April 2005 13:00
  • Keywords:
  • Location: NEW YORK CITY, NEW YORK & LOSA ANGELES, CALIFORNIA, UNITED STATES
  • City:
  • Country: USA
  • Reuters ID: LVA3XRGDQY5FH1PNDS8A6NFNY4E7
  • Story Text: An Austrian-born woman will receive part of a historic 21-million United
    States dollar settlement from Swiss banks compensating her family for Nazi-era
    losses.



    The wheels of justice may turn slowly, but as far as Maria Altmann is
    concerned, late is better than never. The 89-year old Austrian emigree to the
    U.S. won a historic judgement this week that will result in a 21.9 million
    United States dollar payout to her family.

    The payment was awarded by U.S. District Court Judge Edward Korman as part
    of a massive settlement given to Holocaust survivors and their families, who
    accused Swiss banks of handing over to the Nazis hundreds of million of dollars
    worth of Jewish holdings.

    "It's very strange for me that a Swiss bank behaved in this way," said
    Altmann in an interview. "My best friends are Swiss, and I always thought that
    Swiss people are remarkably proper. As far as the Austrians, I have experienced
    myself that this is not the case. But I never suspected it with regards to the
    Swiss. It's shocking, the story reads like a spy novel."
    Altmann's award -- the largest yet -- corrects an injustice done to her
    uncle, Ferdinand Bloch-Bauer, and his partner Otto Pick. The two men were
    major shareholders in an Austrian sugar refinery that was improperly
    transferred to Nazi control shortly after Hitler's invasion of Austria.

    In a 52-page opinion, a court-appointed tribunal found that an unnamed
    Swiss bank failed to protect the men's assets, and instead turned the shares
    over to the Nazis "in order to curry favour with them."
    The proof of the family's connection to the account was made not through
    bank records, which Swiss banks "concede they have destroyed completely", but
    were obtained through archival sources and documents from the family, the
    tribunal said.

    Gideon Taylor of the Claims Conference, which represents Holocaust
    survivors and provides technical assistance in processing claims for the 1998
    Swiss Bank settlement, called judge Korman's decision "very important."
    "It's important both financially, the amount is large and also
    symbolically, because for us these cases are about a recognition of what
    happened and that's is every bit as important as the money," said Taylor.

    But Altmann herself says she's found her peace with the past. "Do you
    know, I'm not a revenge-oriented or mean-spirited person. I always try to find
    the good in things, and I'm indescribably happy and thankful."
    The tribunal has made almost 3,000 awards have been made so far, with the
    average award amounting to $129,000.


  • Copyright Holder: REUTERS
  • Copyright Notice: (c) Copyright Thomson Reuters 2015. Open For Restrictions - http://about.reuters.com/fulllegal.asp
  • Usage Terms/Restrictions: None
Register