Banks respond to US Armenians’ lawsuit

Thursday, September 29, 2011

Vercihan Ziflioğlu

ISTANBUL- Hürriyet Daily News

Incirlik Air Base, which is now used by the U.S. in the eastern Mediterranean province of Adana is also among the Armenian claimed properties. Hürriyet photo

Two Turkish banks have issued their defense in a U.S. lawsuit filed by three Armenian-Americans claiming damages for the alleged appropriation of their properties by Turkey during the events of 1915 in the last days of the Ottoman Empire. The Turkish Central Bank and state-owned Ziraat Bank issued their pleas on Sept. 19, while the Turkish Foreign Ministry, which was also sued, refused to state its defense in the suit.

“Restitution of the property is the plaintiffs’ rightful remedy in international law for the unlawful expropriation of property,” Vartkes Yeghiyan, the plaintiffs’ lawyer, told the Hürriyet Daily News via e-mail.

The banks have claimed in their pleas that the Turkish Republic founded in 1923 cannot be held responsible for incidents that took place during the Ottoman period. The prosecution, on the other hand, is asking for $64 million in compensation.

“In lieu of restitution, plaintiffs are entitled to recovery of the current fair market replacement value of the properties, plus the accrued reasonable rental value,” Yeghiyan said. “This case is also important the international community. ”Rita Mahtesyan, Anais Harutyunyan and Alex Bakalyan filed the suit to reclaim property they alleged had been expropriated by Turkey during the events of 1915 and whose income they say was transferred to the two banks in question. The property they wish to claim also includes the Incirlik Air Base used by the U.S. in the eastern Mediterranean province of Adana. “The government of the Republic of Turkey is benefiting from the exploitation of the properties,” Yeghiyan said.