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http://nycourts.law.com/CourtDocumentViewer.asp?view=Document&docID=46675 Judge Korman THE DISTRICT court had to determine an issue that arose with respect to the $1.25 billion settlement of the class action against the largest Swiss banks involving a dispute relating to the allocation of part of the proceeds of the settlement. One of the classes of the settlement was comprised of victims of Nazi persecution from whom assets were looted by the Nazis and the plunder of which was aided by Swiss banks. The court presiding over the Swiss Holocaust settlement rejected criticisms that the distribution formula that it used favored survivors in the former Soviet Union over those in the United States. Under the approved settlement formula, survivors living in the U.S. receive 4 percent of those funds, with the remainder going to survivors living in Israel, Europe and elsewhere. The court found the apparent disparity more than fully justified noting, among other things, the extreme poverty of Soviet Union survivors compared to those in the U.S.

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