Swift, lead counsel of both the Filipino human rights and Jewish victims, said the Holocaust settlement hammered out early this month in New York capped ``a test of wills'' in an extremely difficult litigation and nine months of tedious negotiations.

"As the co-lead counsel and key participant in settlement talks representing Holocaust victims, I can attest that the successful litigation against Ferdinand E. Marcos provided a mighty incentive for the Swiss banks to settle," he said.

Swift said the Holocaust case was made possible by the US courts' decision to award $1.9 billion to 10,000 Filipino rights victims. The US courts subsequently ordered the Swiss banks to transfer $540 million in Marcos assets to the Philippines. The money, held in escrow at the Philippine National Bank, has grown to $570 million due to accrued interest.

He said the Filipino lawsuit inspired the 350,000 Holocaust victims to reclaim Holocaust-era assets they had stashed in Swiss banks as the Nazis gained power in Europe during World War II.

The World Jewish Congress, lead group in the negotiations, launched the campaign three years ago when it asked Swiss banks to return dormant accounts they had from victims or survivors of the Holocaust. Survivors had complained that the banks refused to give back their money, demanding death certificates for people who perished in Adolf Hitler's death camps.

Swift said the class suit of the Filipino rights victims gained worldwide attention and support as much as that of the Holocaust victims. He said the Swiss banks were subjected to pressure by the threat of potentially harmful boycotts and sanctions by about 20 American states and more than 20 cities. The threat of sanctions, which were to have begun on Sept. 1, proved to be the decisive factor in the deal.

Still, Swift bewailed the fact that while Holocaust survivors had been ensured payment of $1.25 billion over a period of three years, the Filipino victims had yet to obtain indemnification.

"With the settlement in place for Holocaust survivors, I will again focus on obtaining payment for Filipino human rights victims," he said.

Swift lamented that the indemnification process has taken too long. "While the Marcos $570 million sits in an escrow account, the delay in payment is unconscionable," Swift said. "The money should be put to immediate use reconstructing the lives of Filipino victims."

He accused the Marcoses and the Philippine government "of insensitivity to the devastation of the lives of the victims and their families." "This is outrageous and must change," Swift said.

Swift said the big sum won by the Holocaust victims had encouraged him to ask for more for the rights victims. The Marcos victims had agreed to a compromise settlement of $150 million from the $540 million held in escrow at the PNB.

Swift said the Swiss Supreme Court, which requires the victims to be compensated from the escrow account, "would support a larger share for the victims in view of the settlement just made by Swiss banks for Holocaust victims."

Swift said he would come to Manila early next month and consult with his co-counsel Rod Domingo and several human rights victims' groups on a bigger share.

The $150 million merely represents a fourth of the $570 million, he said. Swift said he would also seek the victims' consent to broaden the worldwide collection efforts, adding he believed the Marcoses had stashed their assets in other countries outside of the Switzerland.

By Christine Herrera