Expansión, a global publication serving business markets in Mexico and Latin America, recently reported on the Helms-Burton Act, which allows Cuban-Americans and U.S. citizens to sue to reclaim assets taken by the Cuban government after the revolution. Earlier this year, the Trump Administration ended the suspension of the law.
Businesses impacted could include hotels, beverage manufacturers, tourism agencies and others. The exact number of lawsuits that may be filed is unknown but industry observers and Expansion predict a “historic legal battle.”
Expansión noted Shook’s Carlos Concepción as a “leading lawyer” in this area. Concepcion heads Shook’s Global Arbitration Practice from the firm’s Miami office. He told the publication he is “studying several lawsuits that at the moment are confidential.”