Francisco Industries, Inc. (FRAZ)

[deet49]

Update On Title Three Suspension Of Libertad Act (Helms-Burton)

During the next six months, or sooner, the Trump Administration will decide whether to implement Title III of the Libertad Act of 1996. This provision enables individuals with assets expropriated by the government of the Republic of Cuba to bring lawsuits in United States Federal Courts.

The Libertad Act requires the president to enable or suspend the provision every six months; and Presidents Clinton, Bush and Obama did so. If not, lawsuits relating to expropriated property in the Republic of Cuba may commence. The president may rescind the suspension at any time.

"(2) Additional suspensions.--The President may suspend the effective date under subsection (a) for additional periods of not more than 6 months each, each of which shall begin on the day after the last day of the period during which a suspension is in effect under this subsection, if the President determines and reports in writing to the appropriate congressional committees at least 15 days before the date on which the additional suspension is to begin that the suspension is necessary to the national interests of the United States and will expedite a transition to democracy in Cuba."

The Trump Administration may view creating uncertainty about Title III as an effective means of destabilizing the interests of companies in the United States and other countries toward the Republic of Cuba; and it would be successful.

For example, there are individuals who maintain they have Title III-actionable claims relating to Jose Marti International Airport (HAV) and port at Santiago de Cuba. In the case of HAV, United States-based air carriers and those from other countries could find their assets attached if they do not avoid the Republic of Cuba. In the case of the port at Santiago de Cuba, passenger cruise ships and cargo ships might avoid docking and unloading for fear of expensive and enduring legal proceedings.

The United States Department of State reported that the Obama Administration issued a suspension on 5 January 2017; this was not publicized. The next six-month interval will be July/August 2017.

http://www.cubatrade.org/blog/2017/2/6/update-on-title-three-suspension-of-libertad-act-helms-burton