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Home page  >> News  >> At the end of March 2011, a compromise was reached and an agreement was signed between the Company and Bank Leumi Le-Israel B.M

At the end of March 2011, a compromise was reached and an agreement was signed between the Company and Bank Leumi Le-Israel B.M

This sum corresponds to the assets of Jews who perished in the Holocaust, assets which were held and managed by the Jewish National Fund for decades.
 

This is the largest sum that has been transferred to the Company for the Location and Restitution of Holocaust Victims’ Assets, which serves as a Trust for those who perished in the Holocaust.

 
More than 70 years after the Holocaust: a historical agreement between the JNF and the Company for the Location and Restitution of Holocaust Victims' Assets, for the return of 159 million NIS - is the largest sum refunded by an Israeli organization for benefit of the families of Holocaust Victims. According to this agreement the JNF will transfer the sum of 159 million NIS to the Company for the Location and Restitution of Holocaust Victims' Assets which serves as a Trust for those who perished in the Holocaust. This sum is the value of dozens of properties which for decades were held and managed by the JNF and which belong to Jews who perished in the Holocaust. This is the largest sum that has been transferred to the Company since it was established.
 

The JNF, as a Zionist government body charged with the redemption of the Land, began, after the Holocaust, to fear that the Jewish property belonging to the Holocaust victims would be seized by rogues or appropriated by the British Mandate and by anti-Zionist factors. Therefore, in order to save these assets, the JNF, following the Holocaust, gradually transferred the land to JNF ownership, managing them for decades. Transfer of this fund to the Company for Location and Restitution of Assets, which follows the Law of Holocaust Victims' Assets, locating the assets belonging to them in Israel, and returning them to their legal heirs, is historical closure.

Swift restitution of the funds to the legal beneficiaries: the JNF also transferred to the Company for the Location and Restitution of Holocaust Victims' Assets, a list of the names of the Jews who perished in the Holocaust, who purchased land at the time, in lieu of which the value of the assets is being transferred to the Company in this fund.

 
Chairman of the Board of Directors, Mr. Micha Harish:
"The agreement signed today has no prior instance in the State of Israel - the transfer of 159 million NIS belonging to the families who are the legal heirs of Holocaust Victims. This is an unprecedented achievement, for families of the Holocaust Victims and it is the result of efficient, intensive negotiations between the Company and the JNF. This important agreement is the result of the strenuous work of members of the Company in methodical negotiations with the JMF during the past year and a half, in order to restitute the assets of their legal owners. 70 years after their beloved ones perished, we are able, by means of this fund, to transfer the money which is theirs, to the beneficiaries of the Holocaust Victims"
 
CEO of the Company Dr. Israel Peleg:
"This is an important step in redressing decades of historical injustice, caused the beneficiaries of the Holocaust Victims and their families. The Company will continue in its efforts to locate additional assets of Holocaust Victims, held by other organizations in Israel to date, and at the same time, locating the legal heirs of these assets".
 
 

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