Shook Global Arbitration Chair Carlos F. Concepción told The Daily Business Review it is “highly likely” the Trump administration will allow Cuban-Americans to file lawsuits to reclaim property taken during the Cuban revolution.
U.S. Secretary Mike Pompeo set a 30-day period to determine the impact of reversing a long-standing practice enacted under Title III of the Helms-Burton Act. Every president has suspended Title III but the Trump administration is expected to allow it to take effect when the suspension lapses in March.
Businesses impacted could include hotels, beverage manufacturers and tourism agencies. The exact number of suits that may be filed is unknown but the U.S. Foreign Claims Settlement Commission has already certified 6,000 claims, the DBR reports.
Concepción told the publication he has “five companies lined up that would file lawsuits if the full provision goes into effect.”