Cuban Nationalization Process

Cuba's nationalization process occurred between 1959 and 1968 and included different legal procedures, such as confiscation, forced expropriation by a judicial or administrative authority with compensation, and intervention by state agencies prior to confiscation, nationalization of the private property

·       First stage (1959-1960). Confiscations of the property of alleged officials of the Batista government and collaborators with that government and subsequent confiscations of the property of alleged counter-revolutionaries.

·       Second stage (1959-1963). Agrarian and Urban Reforms. Expropriation of American, Other Foreigner and Cuban-owned interests.

·       Third stage (1961-1968). The Revolutionary Offensive. The Cuban government announced that all private business, with the exception of a few small agricultural businesses would no longer be allowed to operate.

 Cuban Law on Expropriation

·        recognizes that a taking gives rise to a right to fair compensation

·        uses declared taxable value as appraisal basis

·        apart from a specific claims settlement tribunal and in absence of a treaty providing for international dispute resolution of foreign nationals' claims against Cuba, a claimant would have to bring an action in the Cuban courts to vindicate its rights

·        there is no such bilateral investment treaty between the US and Cuba, and one in the near future is highly unlikely

·        regardless, Cuba does not have any track record with international tribunals related to claims settlement

 

Contact Us:

Cuban Claims Owners Association

355 Alhambra Cir

Suite 801
Coral Gables, FL 33134

Email: info@cubanclaims.org

Phone: 786 364-8446

 

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