Exxon Demand for Millions Lost in Cuba Survives Court Fight
- Case seeks $280 million for assets seized in 1959 revolution
- Other plaintiffs ‘sat back to see how things are gonna go’
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Exxon Mobil Corp. can move forward with a U.S. lawsuit seeking $280 million from two Cuban companies as compensation for a refinery and other assets seized from the oil giant after Fidel Castro’s 1959 revolution, a judge in Washington said.
The ruling Wednesday by U.S. District Judge Amit Mehta keeps alive Exxon’s suit against a Cuban government-owned conglomerate, Corporacion Cimex SA, and state-run oil company Union Cuba-Petroleo, known as Cupet. Over the years, the U.S. government has recognized thousands of such claims by companies and individuals over property once owned by Americans.