SocGen Owes $792M Over Castro-Seized Bank, Heirs Say

Law360 (July 10, 2019, 11:09 PM EDT) -- Heirs of a bank that was seized by Fidel Castro's government in 1960 — and then used as Cuba’s national bank — claimed in Florida federal court Wednesday that Société Générale SA ignored U.S. embargoes, profiting by doing business with the bank, and should pay back $792 million in damages.

Don Carlos Nuñez y Doña Pura Galves Inc. — which is made up of the inheritors of Banco Nuñez, whose founders fled Cuba in the 1960s after Castro's takeover — claims that SocGen violated the Helms-Burton Act by unlawfully trafficking its seized property when it did business with Banco Nacional de Cuba, the government-owned successor to...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS