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Office of the Press Secretary

For Immediate Release August 13, 1998


Settlement of Holocaust Assets Lawsuits

I am pleased that Holocaust survivors and private Swiss banks reached a settlement of several pending lawsuits. Both sides demonstrated understanding, flexibility and determination in reaching a settlement that, once approved by the district court, will bring long delayed justice to Holocaust victims and their families.

I applaud the work of the World Jewish Congress and key members of the U.S. Congress for their roles in focusing attention on this important issue and for their strong advocacy on behalf of the claimants.

I also commend the active role played by Under Secretary Stuart Eizenstat and his team at the State Department, whose work with the parties earlier this year laid the groundwork for a settlement.