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Formerly Private Cuba Bank Gets Chance For $456M Claim

Law360, New York (May 6, 2019, 1:54 PM EDT) -- A Manhattan federal judge tasked counsel for a formerly private Cuba bank Monday with explaining why, under new Trump administration policy, it should get a $456 million chunk of $717 million that Societe Generale agreed to pay the U.S. government for violating Cuba sanctions.

At a quick hearing, U.S. District Judge Andrew L. Carter Jr. gave counsel for Banco Nunez, whose assets were taken by the Cuban government in 1960, until the end of May to detail its reasons for the potentially large claim.

"We don't think that there's a valid claim here," counsel for the U.S., Alexander Wilson of the...

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Case Information

Case Title

Subscribers Only

Case Number

Subscribers Only


New York Southern

Nature of Suit

Forfeit/Penalty: Other


Subscribers Only

Date Filed

November 19, 2018

Law Firms


Government Agencies