ARMENIAN GENOCIDE VICTIMS' DESCENDANTS CAN RECEIVE $17.5MLN FROM FRENCH AXA BANK AS COMPENSATIONS

YEREVAN, July 10. /ARKA/. Armenian Genocide victims' descendants can receive $17.5mln from French AXA bank as compensations, Barsegh Gardalyan, the head of Vardges Yeghiyan, Brian Kabatek and Mark Kirakos advocate groups' offices in Yerevan said Tuesday at a news conference. These groups engage in compensations to AXA bank depositors' heirs.

He said that after deducting fees to lawyers, the bank will pay about $11mln to the victims' heirs and $3mln will be transferred to benevolent organizations.

Gardalyan also said that the list consists of 7 000 depositors. It means over 10 000 heirs may get compensations.

The list is available on sites www.ArmenianInsuranceSettlement.com [http://www.ArmenianInsuranceSettlement.com] and www.ArmenianInsuranceSettlementAXA.com [http://www.ArmenianInsuranceSettlementAXA.com].

The application form is placed on the sites as well.

Brsegh Gardalyan said that the office's maim aim is to provide comprehensive information to potential beneficiaries.

New York Life Insurance has already paid compensations to the Armenian Genocide victims' heirs.

In 2007, this insurance company paid $20 million to the victims' descendants living in 26 countries. $3.6 million was paid to Armenia's citizens. Another 3.6 million was paid to Armenian living in the United States, France and the Middle East. The remaining amount was paid to beneficiaries