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Politics : Dutch Central Bank Sale Announcement Imminent? -- Ignore unavailable to you. Want to Upgrade?

To: sea_urchin who wrote (21264)	6/21/2004 2:03:18 PM
From: sea_urchin	Respond to of 81105

> "This is a winning case" says Fagan confidently, explaining "the financial institutions involved will create a fund, which will be in the tens of billions of US dollars to assist victims of apartheid". Everyone gets sued by this New York "Saint" in his desperate search for compensation -- even the ANC government, which is mainly black and African. His claim -- $20bn -- for six alleged victims -- people whose net worth is a tiny fraction of a millionth of that. iol.co.za >>Six apartheid victims, including the mother of a teenager shot dead in the 1976 Soweto riots, are seeking $20-billion dollars (about R140-billion) in a lawsuit targeting the South African government and major corporations, their lawyer said on Monday. The suit was filed in New York District Court on Saturday, demanding at least $10-billion for "genocide, expropriation and other wrongful acts" by international companies under apartheid, American lawyer Ed Fagan told a news conference. The plaintiffs are also seeking another $10-billion in damages because President Thabo Mbeki's government "continued to allow companies to exploit victims without protecting them, allowing industry to violate people's rights." The full amount would be paid into what Fagan termed a "humanitarian fund." The post-apartheid government set up in 1994 was targeted in the case "because of its failure to fulfil its obligations and its conspiracy with specific companies to violate these people's rights," he added. Apart from Mbeki, the suit targets mining giants Anglo American and Goldfields; United States computer giant IBM; UBS Bank of Switzerland and South African petroleum giant Sasol. Fagan said the civil action was separate to that of a class action on behalf of apartheid victims already before a New York court, and from which South African lawyers claimed Fagan had been dismissed. Fagan became prominent when he won a $1.2-billion compensation claim by Holocaust survivors against Swiss banks, including UBS and Credit Suisse, in 1998. Fagan said his clients would give the South African government two weeks to respond to a "proposal" - without divulging details - before the case would go ahead.<<