US Supreme Court to hear Exxon bid for compensation from Cuba [Yahoo! Finance Canada]
Exxon Mobil Corporation (XOM)
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Source: Yahoo! Finance Canada
Supreme Court will consider on Monday the scope of a law that lets American companies seek compensation for property seized by Cuba in cases involving ExxonMobil and cruise operators being argued at a ?time when President Donald Trump's administration is ramping up pressure on the Cuban government. The court will hear back-to-back arguments in ?two cases involving a 1996 U.S. law called the Helms-Burton Act, which permitted lawsuits in U.S. courts against anyone who "traffics" in property confiscated by Cuba's communist government after the ?1959 revolution that brought Fidel Castro to power. In one of the cases, Exxon is seeking more than $1 billion in compensation from Cuban state-owned entities for the energy major's oil and gas assets seized by Cuba's government in 1960. The other case involves whether four cruise operators - Carnival, Royal Caribbean, Norwegian Cruise Line and MSC Cruises - should be liable for using docks built by an American company that Cuba also seized
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