US Supreme Court boosts Exxon's bid to get compensation from Cuba
Justice Brett Kavanaugh wrote the 6-3 ruling, and Exxon says the seized Cuban assets were valued at nearly $72 million.
- On Tuesday, the Supreme Court ruled 6-3 that Exxon Mobil may sue state-owned Cuban oil companies for properties confiscated by Fidel Castro's regime more than 65 years ago.
- This litigation centers on the 1996 Helms-Burton Act, which allows Americans to sue over confiscated assets; President Donald Trump lifted the suspension of that law's Title III provision in 2019.
- Standard Oil Company, later renamed Exxon Mobil Corporation, lost more than 100 service stations and a refinery in the 1960 seizure; assets were valued at nearly $72 million in 1969, worth around $3 billion today.
- The decision reverses a lower-court ruling that found Cuban state-owned companies immune from lawsuits, aligning with the Trump administration's broader pressure campaign against Cuba's government.
- This ruling marks the second time in two months the Supreme Court has favored U.S. property owners in Cuba, following a similar decision allowing lawsuits against cruise lines that docked at Havana's pier.
78 Articles
78 Articles
SCOTUS ruling allows ExxonMobil to sue Cuban companies over seized property
The U.S. Supreme Court on Tuesday ruled that ExxonMobil can sue Cuban state-owned companies in American courts over property on the island nation that was seized after Fidel Castro took power. The 6-3 decision was the second in as many months in favor of U.S. owners of Cuban property that was confiscated by the Communist government more than 65 years ago. The outcome in the two cases could be an additional lever for the Trump administration to e…
Exxon Mobil filed a multimillion dollar complaint against the Cuban state entity Corporación Cimex for the confiscation in 1960
Court rules for Exxon Mobil in Cuban confiscation case
Updated on June 23 at 4:45 p.m. The Supreme Court on Tuesday ruled in Exxon Mobil v. Corporación Cimex that a lawsuit by Exxon Mobil against Cuban state-owned companies for the confiscation of assets owned by subsidiaries of the oil giant’s predecessor can go forward.Writing for the majority, Justice Brett Kavanaugh explained that the Helms-Burton Act, a federal law passed in 1996, cancels the immunity that the Cuban government and its companies…
On Tuesday, the US Supreme Court held that companies based in the United States could sue Cuban public companies exploiting assets expropriated after the Castrist revolution, giving satisfaction to the oil group ExxonMobil.
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