Dissent Mounts Over Funds in Holocaust Settlement

By JOSEPH GOLDSTEIN – Staff Reporter of the Sun
May 30, 2006

The historic $1.25 billion settlement with Swiss banks is largely disbursed to Holocaust survivors. But as the settlement fund shrinks, dissent is mounting over how to allocate the remaining $350 million.

There are also indications the original formula used to calculate the value of individual bank accounts may have undervalued them. An economic historian involved in the claims process, Helen Junz, has suggested increasing the payout to account holders which now average $134,000, by more than 40%. That move would sap most of the fund’s remaining cash – which is already the subject of a bitter dispute between two lawyers in the case.