Posted on 04/17/2019 8:28:38 AM PDT by Olog-hai
The Trump administration on Wednesday opened the door for lawsuits against foreign firms operating on properties Cuba seized from Americans after the 1959 revolution.
Secretary of State Mike Pompeo said he won’t renew a bar on litigation that has been in place for two decades, meaning that lawsuits can be filed starting on May 2 when the current suspension expires. The decision could affect dozens of Canadian and European companies to the tune of tens of billions of dollars in compensation and interests.
“Any person or company doing business in Cuba should heed this announcement,” Pompeo said.
Pompeo said the administration was acting because it recognized the “reality” that the bar on lawsuits, which has been in place since 1996, had not achieved the goal of pressing Cuba to enact democratic reforms or reining in what he called its export of oppression throughout the Western Hemisphere, particularly in Venezuela. …
(Excerpt) Read more at apnews.com ...
Cuba nationalized the hotels and Casinos, among other things.
There was a metric crapton of investment before the revolution. LOTS of money. I’d believe there is some serious coin they owe.
Oh, and arrest that cop-killing wench while yer at it, who fled down there. What’s their excuse for letting her breath oxygen? Somebody needs to put one right through the runnin’ lights.
A couple of years ago the wife and I took a cruise that stopped in Havana for 24 hours. Being a real estate guy by nature I thought about who, if anyone, was maintaining the land records from before the revolution. When the commie Castro influence is gone and a free market government returns, there will be a monumental task of re-privatizing assets, especially the land. When I was a kid, my father used to go over there with his country club buddies to gamble at the casinos. This was in the late ‘50’s and everytime I watch the “Godfather II” Cuban revolution sequence, I think of him.
THANK YOU President Trump!
How was it handled in the former East Germany, Poland or any of the other eastern European counties? I think I read somewhere there even some effort to recover old family property in Russia.
I do have one personal story regarding a college friend. He was 1st generation German-American. He was of German aristocracy - a Count. He lived the somewhat upper middle class life in NoVa. His farther was a engineer in addition to being a Count. (I used to tell the son since his father was a count he was a no-account!) The family had a castle in East Germany and the surrounding small town was named after the family. I ran into to him years later after college and he told me that his family was trying to recover some rights to the castle. I have no idea how it turned out.
saw a report on this on local Miami news. The media in Miami was sad, you could tell, by this report.
When I was a kid, my father used to go over there with his country club buddies to gamble at the casinos.
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