Tom Burroughes
Group Editor
27 April 2012
Daily News Analysis
Two Israelis are preparing to file a lawsuit against the Swiss government and Switzerland’s two biggest banks, UBS and Credit Suisse, for allegedly refusing to return money and valuables deposited by their parents shortly before World War II, according to Haaretz.
The plaintiffs say they intend to file the lawsuit next week in a US court, under a US law enabling them to sue foreign states in matters linked to the Holocaust.
"We tried to negotiate with the banks and with Switzerland, but they lied to us and cheated us," says M Katz, one of the plaintiffs. "We now understand they never intended to return the property deposited with them by the Holocaust victims."
Katz reportedly said he intends to sueUBS,Credit Suisse and the Swiss government for $185 million. He claims the banks have systematically concealed documents related to his mother's accounts in order to prevent him from getting his money.
