Turkey may be forced to pay compensations to Armenian Genocide heirs?

PanARMENIAN.Net - The former head of the Turkish-American Foundation Assembly (ATAA), Ercument Kilic, has warned that Turkey could face heavy recompensation payments to Armenia in coming years. Asserting that "Armenia's aim in backing bills calling for the official recognition of the Armenian Genocide was to receive monetary recompensation", Kilic noted that certain American insurance firms had already begun to pay out recompensation to Armenians and that these payments would continue, reports Hurriyet newspaper. Kilic maintains that the large insurance firms will later turn to Turkey for recompensation for their financial losses.



New York Life insurance company proceeded to payments to the heirs of the Genocide victims November 11. The sum destined for 1254 heirs living in Armenia makes $3.6 million. American Armenians will receive $2.7 million. In all, compensations will be paid to Armenians residing in 26 states of the world and will total some $8 million. The remaining sum will be distributed among benevolent organizations.