Supreme Court wades into US-Cuba business disputes, with billions at stake
Source: Reuters
12h
Feb 22 (Reuters) - The U.S. Supreme Court is set to explore legal questions arising from the fraught history of U.S.-Cuban relations when it considers the scope of a 1996 law that lets U.S. nationals seek compensation for property confiscated by the communist-led Cuban government.
The justices hear arguments on Monday in two cases centered on the federal law called the Helms-Burton Act, one involving U.S. oil major ExxonMobil (XOM.N), opens new tab and the other involving the cruise lines Carnival (CCL.N), opens new tab, Royal Caribbean (RCL.N), opens new tab, Norwegian Cruise Line (NCLH.N), opens new tab and MSC Cruises.
One of the law's provisions, called Title III, allows for lawsuits in U.S. courts against entities that "traffic" in property confiscated by the Cuban government after the revolution that brought Fidel Castro to power in 1959.
While the two cases focus on distinct legal issues, both raise the question of just how powerful a remedy Congress intended Title III to be. In both cases, the Supreme Court has the opportunity to eliminate barriers that claimants face in bringing Helms-Burton Act lawsuits. The justices have never before interpreted Title III, which Congress authorized the U.S. president to suspend if deemed "necessary to the national interests of the United States."
Read more: https://www.msn.com/en-us/news/other/supreme-court-wades-into-us-cuba-business-disputes-with-billions-at-stake/ar-AA1WPVTf
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