Docket No: 7827/1198/RO
Partial Award on Agreed Terms by Judge Tsevi E. Tal, Arbitrator of the Claims Resolution Tribunal for Dormant Accounts in Switzerland ("Tribunal"), as Sole Arbitrator, sitting in Zurich
In the matter of
[Claimant 1]
("Claimant 1")
and
 
[Claimant 2]
("Claimant 2")
and
 
[Claimant 3]
("Claimant 3")
and
 
[Claimant 4]
("Claimant 4")
and
 
[Claimant 5]
("Claimant 5")
and
 
[Claimant 6]
("Claimant 6")
and
 
[Claimant 7]
("Claimant 7")
and
 
[Bank]
("Bank")
concerning the bank account of
 
[Name]
("Account Holder")
In the Fast Track procedure pursuant to Articles 11-13 of the Rules of Procedure for the Claims Resolution Process (the "Rules").
I.
Considerations
1.
[Claimants 1 to 7] (collectively the "Claimants") have each submitted claim forms to an ATAG Ernst & Young Dormant Account Contact Office. The Claimants state that each of them is entitled to a share of the account of the Account Holder (the "Account") because they are each related to and are heirs of the Account Holder.
2.
The Bank and the Claimants have signed Claims Resolution Agreements submitting to the jurisdiction of the Tribunal. Pursuant to Article 11 of the Rules, the Bank signed a request for Fast Track Procedure for each claim, requesting that the Tribunal join the claims in one proceeding and decide them in the Fast Track procedure.
3.
On 25 May 1999, the Sole Arbitrator issued a First Order joining the claims of the Claimants into a single, consolidated proceeding.
4.
On 15 June 1999, the Bank signed the Settlement Agreement. On 31 July 1999, 5 August 1999, and 7 August 1999, the Claimants signed the Settlement Agreement.
5.
The Sole Arbitrator has reviewed the terms of the Settlement Agreement including the provision under which the Parties agree to the following distribution of the assets in the safe deposit box:

Claimant 1: 11 "Eagle" gold coins and 16 "Sovereign" gold coins
Claimant 2:  4 "Eagle" gold coins and  6 "Sovereign" gold coins
Claimant 3:  4 "Eagle" gold coins and  6 "Sovereign" gold coins
Claimant 4:  4 "Eagle" gold coins and  6 "Sovereign" gold coins
Claimant 5:  7 "Eagle" gold coins and 12 "Sovereign" gold coins
Claimant 6:  7 "Eagle" gold coins and 12 "Sovereign" gold coins
Claimant 7:  7 "Eagle" gold coins and 12 "Sovereign" gold coins
6.
The Sole Arbitrator notes that in paragraph 5 of the Settlement Agreement, the Parties also have agreed that under certain circumstances (defined by the Guidelines on Interest and Fees to be established by the Board of Trustees of the Independent Claims Resolution Foundation), the Tribunal may make an additional award to compensate for reimbursement of Bank fees previously assessed against the Account, in which case the Sole Arbitrator will award such compensation in a Final Award. The Sole Arbitrator finds that the terms of the Settlement Agreement are consistent with the Claims Resolution process.
II.
Award
1.
This Partial Award is rendered in the Fast Track Procedure according to Articles 11-13 of the Rules.
2.
The Parties have entered into the attached Settlement Agreement. The terms of this agreement are hereby incorporated into this Partial Award. The Settlement Agreement enters into force as of the date of this Partial Award.
3.
The Bank is directed to distribute the assets in the safe deposit box to the Claimants in accordance with the terms of the Settlement Agreement. No fees or other charges shall be assessed against the Claimants in making this distribution.
4.
Upon the adoption of the Guidelines on Interest and Fees, the Tribunal will decide whether additional compensation should be awarded to the Claimants in a Final Award.
5.
This Partial Award on Agreed Terms will be sent to the Claimants and the Bank by registered mail against return receipt.
18 August 1999
The Sole Arbitrator:
[signature]

Judge Tsevi E. Tal
Consolidated Docket No: 7827/1198/RO

Settlement Agreement
between
[Claimant 1]
("Claimant 1")
and
[Claimant 2]
("Claimant 2")
and
[Claimant 3]
("Claimant 3")
and
[Claimant 4]
("Claimant 4")
and
[Claimant 5]
("Claimant 5")
and
[Claimant 6]
("Claimant 6")
and
[Claimant 7]
("Claimant 7")
and
[Bank]
("Bank")
concerning the bank account of
 
[Name]
("Account Holder")
I.
Background
A.
In 1997 the Swiss Bankers Association published the names of non-Swiss account holders of Swiss bank accounts that have been dormant since the end of World War II. [Claimants 1 to 7] (collectively the "Claimants") have submitted claims to the Account Holder's account (the "Account"). These claims were subsequently reviewed by the Bank holding the Account, and the name of the Bank and details regarding the Account were disclosed to the Claimants.
B.
The Bank reported that the Account consists of a safe deposit box containing 44 pieces of "Eagle" gold coins and 70 pieces of "Sovereign" gold coins.
C.
Each Claimant declares that he or she is, to the best of his or her knowledge, an heir of the Account Holder. Each Claimant also has indicated that he or she is not the only heir of the Account Holder, but that the other Claimants comprise all of the other known heirs. In their respective claim forms, the Claimants have indicated that the assets in the Account should be apportioned in the following manner: Claimant 1 (1/4), Claimant 2 (1/12), Claimant 3 (1/12), Claimant 4 (1/12), Claimant 5 (1/6), Claimant 6 (1/6), Claimant 7 (1/6).
D.
The Claimants and the Bank (collectively "the Parties") signed Claims Resolution Agreements and submitted the claim to the Claims Resolution Tribunal for Dormant Accounts in Switzerland (the "Tribunal").
II.
Agreement
1.
In settlement of the claims, the Parties agree to the following distribution of the assets in the safe deposit box:

Claimant 1: 11 "Eagle" gold coins and 16 "Sovereign" gold coins
Claimant 2:  4 "Eagle" gold coins and  6 "Sovereign" gold coins
Claimant 3:  4 "Eagle" gold coins and  6 "Sovereign" gold coins
Claimant 4:  4 "Eagle" gold coins and  6 "Sovereign" gold coins
Claimant 5:  7 "Eagle" gold coins and 12 "Sovereign" gold coins
Claimant 6:  7 "Eagle" gold coins and 12 "Sovereign" gold coins
Claimant 7:  7 "Eagle" gold coins and 12 "Sovereign" gold coins
2.
The Bank agrees to deliver the contents of the safe deposit box to or at the direction of the Claimants in accordance with the apportionment set forth in paragraph 1 upon receipt of the Partial Award on Agreed Terms, without assessing any fees.
3.
The Claimants acknowledge that by accepting control of his or her respective portion of the assets from the Bank, he or she waives any rights he or she may have against the Bank in relation to the Account, except as to any compensation to be awarded under Paragraph 5.
4.
The Parties acknowledge that this Agreement does not affect any rights which third parties (including other heirs) may have against the Bank in relation to this Account. The Parties and the Tribunal may inform other possible heirs of the Account Holder of this Agreement.
5.
The Parties recognize that, under certain circumstances (defined by the guidelines on interest and fees to be adopted by the Board of Trustees of the Independent Claims Resolution Foundation), the Tribunal may make an additional award to compensate for reimbursement of Bank fees previously assessed against the Account.
6.
This Agreement is governed by Swiss law.
7.
The Parties jointly request the Tribunal to incorporate this Agreement into the Partial Award on Agreed Terms in the Fast Track Procedure under the Rules of Procedure for the Claims Resolution Process.

Place:   Place:
Date:   Date:
       [signature]          [signature]
Claimant 1   Claimant 2
 
Place:   Place:
Date:   Date:
       [signature]          [signature]
Claimant 3   Claimant 4
 
Place:   Place:
Date:   Date:
       [signature]          [signature]
Claimant 5   Claimant 6
 
Place:   Place:
Date:   Date:
       [signature]          [signature]
Claimant 7   Bank:
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