A new limited liability corporation, designed to aid in the utilization of Jewish restitution and indemnification funds now being recovered in Germany, has been established in Hamburg, it was reported here today. It will be known as the International Trust Corporation.
The corporation was formed through the interest and efforts of the Jewish Agency and the Joint Distribution Committee. These organizations have for some time recognized the special need in Germany for a reliable institution which can assist public and private Jewish restitution and indemnification beneficiaries with advice in matters concerning the utilization of their blocked funds.
It will be the Corporation’s special task to study the possibilities of utilizing such funds with a view to submitting suitable proposals to the relative Allied and German authorities for their approval and to attending to the execution of such proposals after they have been approved. The Corporation will also deal with other special problems confronting the holders of such funds.
In connection with the work of the Corporation, there will shortly be formed internationally one or several advisory boards consisting of prominent businessmen and representatives of the above-mentioned Jewish organizations. The Corporation will operate in the American, British and French zones of Germany and in the Allied sectors of Berlin.
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The Archive of the Jewish Telegraphic Agency includes articles published from 1923 to 2008. Archive stories reflect the journalistic standards and practices of the time they were published.
