Summary of the Claims Resolution Process


In July and October 1997, the Swiss Bankers Association published the names of non-Swiss account holders whose accounts had been dormant since 1945. Information brochures and claim forms were made available to claimants at ATAG Ernst and Young's Dormant Account Contact Offices in Basle, New York, Tel-Aviv, Budapest and Sydney.

In the published lists of dormant accounts the name of the bank and the balance in the account were not published. In appropriate cases, this information was disclosed to a claimant by the bank after it received from the Contact Office the claim and all supporting documentation and compared it with the information in its records. Such disclosure did not mean that a claimant was entitled to the contents of the account, only that his or her claim was plausible in the light of all the circumstances.

A refusal by the bank to disclose the above details to a claimant was automatically reviewed by a sole arbitrator in a procedure called Initial Screening. The sole arbitrator had access to all relevant material including the claim form and supporting documentation and the bank records. A claimant who was denied disclosure by a sole arbitrator could re-submit his claim. A panel of three arbitrators, whose decision was final, considered this resubmission.

A claimant who obtained disclosure was invited to sign a Claims Resolution Agreement which empowered the Tribunal to resolve the claim on its merits in a process of arbitration according to the rules of procedure. The Tribunal completed their assessment on 30 September 2001.


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