Replies to post #989 on -Top Gainer - DD// - (deet)

[deet49]

A Swiss multinational building materials company and the heirs of a Cuban family who had property confiscated on the island after the 1959 revolution reached the first compensation agreement under a US law. Since 2019, it allows lawsuits against third parties who use this type of property.

This is the first resolution of a lawsuit under the so-called Title III of the Helms Burton Act of 1996 or the Liberty Act, which was activated by the Government of Donald Trump (2017-2021).

https://www.swissinfo.ch/spa/eeuu-cuba_primer-acuerdo-en-demandas-en-eeuu-por-uso-de-bienes-confiscados-en-cuba/46665584

[deet49]

"The Parties are working diligently to consummate their settlement agreement and expect that the agreement will be completed on or before June 28, 2021," says a status report on the case.

https://www.bakersfield.com/ap/national/in-historic-first-swiss-firm-settles-suit-by-miami-family-over-seized-property-in-cuba/article_398e7d21-f257-54ce-b6ec-a6ccfe51dafc.html

Thanks to a surprising decision by former President Donald Trump in May 2019 allowing people to sue under the Title III provision, owners of property seized by the Cuban government can demand compensation from foreign companies in Cuba "trafficking in stolen property." The provision allows U.S. citizens to claim compensation in federal courts from any company — American or foreign — that has benefited from the use of confiscated property on the island.

Since then, claimants have been filing lawsuits against hotels, cruise and travel companies, airlines and banks, among others, accused of benefiting from business with properties that were taken by the Cuban government after the revolution.

Go FRAZ