A judge gave final approval Tuesday to a settlement by Holocaust victims, their relatives and an Italian insurance company, saying the deal to end a lawsuit brought a decade ago was fair, but not perfect.
US District Judge George B. Daniels announced his approval from the bench after listening to lawyers on all sides, including an attorney for six objectors who insisted the deal with Assicurazioni Generali would deny justice for tens of thousands of victims.
"The settlement is not perfect, but it's hard to imagine any recovery for Holocaust victims after 60 years could be just compensation," Daniels said.
Under the deal, Generali would accept new claims until March 31, even though it has already paid $135 million to settle claims. So far, 3,300 people have made fresh claims, which might entitle them to payouts under an international commission's formula. Lawyers said an average of $25,000 was expected to be paid out per claim.