KarstadtQuelle loses battle with Wertheim family

25th October 2005, Comments 0 comments

25 October 2005, BERLIN - Heirs of the German-Jewish Wertheim family, who owned department stores and other properties in central Berlin until the rise of Adolf Hitler's Nazis, on Tuesday won a legal battle with troubled retail giant KarstadtQuelle.

25 October 2005

BERLIN - Heirs of the German-Jewish Wertheim family, who owned department stores and other properties in central Berlin until the rise of Adolf Hitler's Nazis, on Tuesday won a legal battle with troubled retail giant KarstadtQuelle.

A federal court in Leipzig rejected a legal complaint lodged by KarstadtQuelle and formally recognised claims for compensation by the Wertheim heirs.

Some estimates put the current value of Wertheim Berlin properties at 500 million euros (600 million dollars).

Last month the German federal government agreed to pay the Wertheim heirs 17.3 million euros for land seized by the Nazis on which a federal parliamentary building has been built.

Revelations that the state used land taken by the Nazis was highly embarrassing for the German government.

Federal officials initially offered 2.9 million euros to the Wertheim family but this was rejected by lawyers as "unacceptable" for the prime real estate on the Spree River.

Money for the Wertheim properties is paid to the Jewish Claims Conference which in similar cases has passed 80 per cent of the funds on to the heirs.

DPA

Subject: German news

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