Property Restitution and the Successor Organization

Report on Current Assets/Pending Claims of the Successor Organization

A. TYPES OF RECOVERY

The following are the major categories of claims filed by the Claims Conference:

Real estate
These are claims for real estate formerly owned by individuals.
Businesses
These are claims relating to a former business and generally consist of claims that receive a compensation payment only.

The following are the major forms of recovery of assets by the Claims Conference:

Restitution
This is the return of an actual item of property. The Claims Conference has a well developed procedure for selling such properties.
Compensation
This is a compensation payment for a property which is not recoverable or for a business no longer in existence. Generally, compensation payments are for lower amounts than the value of restituted assets. Smaller types of recovery and claim are for certain cash assets, moveable assets or mortgages.

Total Successor Organization gross income since 1995 (sales, compensation, Wertheim, bulk settlements and property management) up to December 31, 2008 is approximately €2.059 billion. The majority of these funds have been distributed to Goodwill Fund applicants/heirs or allocated for social welfare programs benefiting Nazi victims or for other programs.

B. GOODWILL FUND

The Claims Conference also maintains a Goodwill Fund to make payments to certain property owners or heirs who did not file claims by the German government deadline of 1992 but who filed applications with the Claims Conference by March 31, 2004.

A total of 13,647 Goodwill Fund applications were filed before the deadline of March 31, 2004. Current and future income from sales and compensation is subject to payment to eligible heirs based on their relevant Goodwill Fund applications.

To date, approximately €704 million or 34 percent of the income of the Successor Organization has been paid or set aside for payments to Goodwill Fund applicants/heirs.

C. ASSETS/POTENTIAL ASSETS

There are three categories of assets or potential assets that could be recovered by the Claims Conference Successor Organization.

1. Restituted Properties and Compensation - Receivables.
Where the economic title in respect to the sale of a property has passed or it has received a confirmation of value from the Regional Tax Authorities with respect to compensation claim, the amount is regarded as an appropriate and reasonable indication of value and therefore is included in the financial statements.

The Financial Statements of 2008 include the following approximate amounts:

Receivable from the Sale of Property $14 million
Property Compensation Receivable: $7 million

2. Properties That Have Been Recovered But Not Sold
As of December 31, 2008 the estimated value of unsold property as audited, after taking into account commitments, is approximately $23 million.

3. Claims Pending
The following are the numbers for the major categories* of claims as of
May 1, 2010:

	Total Claims	Decided Cases	Positive Decisions
Real Estate	55,263	49,092	7,919 (16%)
Business	66,574	42,627	5,670 (13%)
Total	121,837	91,719	13,286 (14%)

The following are the numbers for the major categories of open claims as of December 31, 2009:

Open Claims
Real Estate	6,171 (20%)
Business	23,947 (80%)
Total	30,118

*Not included are smaller types of claim for certain cash assets, moveable assets or mortgages.

Updated June 3, 2010

Recovered Property and the Successor Organization

Are you looking for:

Property Restitution and the Successor Organization

Report on Current Assets/Pending Claims of the Successor Organization

A. TYPES OF RECOVERY

B. GOODWILL FUND

C. ASSETS/POTENTIAL ASSETS