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Thursday, 20 June, 2002, 09:28 GMT 10:28 UK
Should victims of apartheid be compensated?
Banks who allegedly profited from the "blood and misery" of South Africans under apartheid are being sued for billions of dollars of compensation.
Lulu Petersen, whose 13-year-old brother Hector was shot dead by Soweto police in 1976, is heading a group of four apartheid victims suing Citigroup, Credit Suisse and UBS.
Lawyers for the plaintiffs are encouraging others to join the case, saying that the banks assisted the apartheid regime by giving loans and making money on other business deals with the South African Government while a United Nations embargo was in place.
UBS say they will fight with every means available as they view the case to be without any merit.
Do you think the banks are liable? Should compensation be given to people who suffered under apartheid? What are the chances of winning this action?
This debate is now closed. Read a selection of your comments below.
It about time the big banks realised that they do not operate in a moral vacuum, and that they should be accountable for their actions. most of them are richer than governments, and more powerful, but completely out of control. They should bear the full cost of rebuilding South Africa's economy and infrastructure.
Denise Gordon, Sarajevo, Bosnia and Herzegovina
Why limit litigation to banks? Surely every pension fund and private investor should be sued. No one should be permitted to profit from apartheid. Ex-pats who worked in South Africa should have to pay back their earnings. If they are deceased then their heirs should be held responsible.
The double standard of some of the correspondents here is unbelievable. In the US, you go to the court for any number of reasons if there is even a hint of making money. The US has fought with its lobby groups to compensate the Nazi victims (which is right). How can then the apartheid victims or slavery victims be not compensated? Just because they affect US companies. The excuses are pathetic.
Yes, they should most definitely be compensated for the abomination that was apartheid. So should the true Americans, Australians and New Zealanders be compensated. It's about time for these oppressive tyrants to be held to task for the years of barbaric, debauched misery they┐ve inflicted on people because of their colour, race or creed. Chances of winning this action? Fair to middling.
Getting money for being oppressed will not change anything. The oppression has still been done and will never be erased from the victims' minds.
Yes these firms should be held responsible for the consequences of their action. This could set a precedent which would make financiers very wary of propping up criminal regimes. We might even reach a situation where ending oppressive policies would be a condition for a loan. This would be a good counterweight to the IMF and World Bank insistence on the ending of progressive policies.
Let us not lose sight of the fact that these bank loans were used by the apartheid government to build up an infrastructure in South Africa unrivalled in Africa. Yes, some parts of the infrastructure (for e.g. Sasol, Armscor) were designed purely for 'sanctions-busting' purposes but now, they are amongst the country's biggest companies contributing to the SA government's efforts to rebuild the nation. What a pity it would have been for a democratic government to have inherited no assets with which to improve the quality of life of those who suffered under apartheid!
I remember as a kid, my parents would not buy anything from south Africa as a protest against the regime, and I know that many other people did the same. Surely anyone with morals would have avoided anything to do with south Africa, unless it was to help get rid of apartheid. I am not necessarily saying that they should be sued, but questions should be asked on why the felt they should go against world opinion and help this terrible regime.
If I lent a friend $100 and he buys a gun with it and shoots someone, am I responsible? It seems once again, that yet another African country has pointed their finger at the Western World because they are incapable of dealing with their own problems.
Lulu Peterson wants to "bring the white regime to justice", but I don't see how she is going to accomplish that by punishing American financiers. This really has nothing to do with apartheid, which will not be set right by any sum of money.
Sean Fear, UK
The civilised answer is yes. What are the limits to which you can take this type of litigation? What needs to be set up is a United Nations-based court, which could oversee these international litigation cases.
Mmm, how about we sue the Danish for their Viking invasion and Italians for taking us as slaves and feeding us to the lions?
Anyone who lost at the hands of exploitation has the right to reclaim their losses from the takers.
Christopher Magee, USA
Not only should banks be sued, but a whole host of consumer product multinationals who saw South Africa as one big market to profit from.
These banks could have denied investment as a protest against a corrupt and evil regime but they chose the almighty dollar instead. I find it interesting that so far the nays seem to all be from US citizens...
In 20 years will the people of Afghanistan sue the Taleban or the US Government (who I am sure are making money out of last year's tragedy)? No - apartheid victims should not be allowed to sue. South Africa has endured enough years of Truth and Reconciliation commissions. No one condones the fact that these banks have made money by blood being spilt but where will it end??
H Brewer, Spain
This is a moral dilemma we find often in corporate annual meetings in the US. When is ignorance in business relations a reasonable excuse for supporting unfair or even illegal acts? How closely should corporations oversee the acts of their associates? Laws may be fair, but who said they were always just?
John McNally, Singapore
Years of brutal oppression and injustice were possible because of the hidden powers like these who acted to strengthen the perpetrators. It is justice to bring them out in the light and expose the evil capitalist powers which disregard human values and work to profit from everything possible.
This is insanity. Everyone wants the easy solution to poverty and corruption by blaming the guilt-ridden West. This ignores the fact the South Africa under apartheid was the most economically developed nation in Africa. People from around the continent emigrated to SA for the jobs provided at wages not attainable elsewhere. This will surely shrink any future investment and who can blame the banks? Let the Third World sort out its own problems from now on.
Compensation will not relieve the suffering and the humiliation inflicted to the people of South Africa but at least it will show some gesture of remorse.
The companies that did business in South Africa in the past are the very same companies that continue to do business in the present. To target these companies for crimes which they may have done in the past will only make South Africans suffer in the future.
This is ethical and has legal precedence too. The Swiss banks were forced to pay a lump of cash a few years ago for keeping the Nazi gold. I fail to see why this case should be any different.
Bill Dycus, USA
Tim Saunders, New Zealand (ex-UK)
Why not? Jewish victims of Nazism have been suing big companies for years.
In a word, NO! This is another group of American attorneys looking for the deepest pockets. I would support the effort if the attorneys all pledged to renounce compensation for any settlements reached. We would then see how dedicated they are to justice.
Luke Rendell, UK living in Canada
Creditors should not be held accountable for the actions of their customers.
The capitalist banking system is the most unethical in the world and it is good to see that they will be held responsible for blatant disregard for human lives and the misery they heap on hardworking people, just for the sake of a fistful of dollars.
These suits deserve to be thrown out of the courts. The banks were obviously targeted because of their deep pockets, and not because the tangential role they played in apartheid. America's litigation craziness seems to be spreading throughout the world. Surely there are many more South African companies that bear a much greater and direct blame for apartheid, but I'm sure that the current South African government has no wish to cripple its own economy.
Alan Wilson, UK in NL
17 Jun 02 | Africa
17 Jun 02 | Africa
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