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Corporate Counsel Magazine: Doing Business in Cuba: First, Let's Settle Up

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Wednesday, 15 April 2015 13:35

topicIn the cover story of the April 2015 edition of Corporate Counsel magazine, Sue Reisinger takes a look at how recent U.S. government policy and regulatory changes could impact U.S. companies interested in potential enterting the Cuba market. 

Corporate Counsel's Reisinger is one of the first to take a close look at an issue that has gone underreported ever since President Obama announced the policy shift on December 17, 2014.

"Of course, Cuba has its own claims. It says America owes it over $100 billion for economic harm caused by the embargo. However, history is on the side of U.S. corporations. Of the 48 instances of claims certified by the U.S. Foreign Claims Settlement Commission against other countries since 1954, America has resolved all but two. Those two are against Russia and Cuba, and Russia's has been partially resolved.

"At least one claims attorney is optimistic. No claims program has ever gone this long without being settled, notes Mauricio Tamargo, of the Miami law firm PobleteTamargo. The Cuban-born lawyer, who served eight years as chairman of the settlement commission, says this is the largest claims program in U.S. history. "At least it will be when it does get resolved," he says. "And I'm confident it will be resolved."

 

You can read the entire story at the Corporate Counsel website.

 

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