SocGen Fires Back At $792M Suit Over Castro-Seized Bank

Law360 (October 30, 2019, 4:46 PM EDT) -- Societe Generale SA said Tuesday the heirs of founders of a bank seized by Fidel Castro's government in 1960 have no claim to the $792 million they’re seeking from it for doing business with the state-owned successor to their ancestors' bank.

The French bank is asking a Florida federal judge to dismiss the lawsuit brought in July by the inheritors of Banco Nuñez, whose founders fled Cuba in the 1960s after Castro's takeover and which was ultimately consolidated with other banks on the island into the government-run Banco Nacional de Cuba.

SocGen is not subject to Florida’s jurisdiction in the first...

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