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 and 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 foreign 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 bilateral investment treaty between the US and Cuba, and one is highly unlikely prior to settlement of pending claims; and
regardless, Cuba does not have any track record with international tribunals related to claims settlement.
Cuban Claims Owners Association
Raul J. Valdes-Fauli
Southeast Financial Center
200 South Biscayne Blvd.
Miami, FL 33131
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