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Published online by Cambridge University Press: 27 February 2017
1 505 F.Supp. 412 (S.D.N.Y. 1980).
2 31 C.F.R. pt. 515 (1980).
3 On the same day that it rendered this opinion, the Second Circuit (per Kearse, J.) decided three other cases relating to the property of American banks expropriated by the Cuban Government: Banco Para el Comercio Exterior de Cuba v. First Nat’l City Bank, 658 F.2d 913; First Nat’l Bank of Boston (Int’l) v. Banco Nacional de Cuba, 658 F.2d 895; Banco Nacional de Cuba v. Chemical Bank New York Trust Co., 658 F.2d 903.
4 The Bernstein exception to the act of state doctrine provides, in effect, that the doctrine does not apply when the executive branch expressly supports adjudication. See Bernstein v. N.V. Nederlandsche-Amerikaansche Stoomvaart-Maatschappij, 210 F.2d 375 (2d Cir. 1954); Bernstein v. Van Heyghen Freres Societe Anonyme, 163 F.2d 246 (2d Cir.), cert, denied, 332 U.S. 772 (1947).
5 658 F.2d 875, 884.
6 Id. at 885.
7 See Note of Secretary of State Hull, Aug. 22, 1938, 19 Dept. of State Press Releases, No. 465, Aug. 27, 1938, at 140.
8 See, e.g., UNGA Res. 1803 (XVII) on Permanent Sovereignty over Natural Resources, para. 4.
9 658 F.2d at 894. Chase has not filed a petition of certiorari appealing this decision.
10 The Commission held that “the evaluation of the loss should not be limited to the assets of the bank branches, but should also include compensation for the ever increasing business activities of the branches and the substantial earning potential in connection with such activities.” Claim of the Chase Manhattan Bank, N.A., F.C.S.C. Dec. No. CU-6295, at 2 (Oct. 20, 1971) (emphasis added).
11 Treaty Between the United States of America and _______ Concerning the Reciprocal Encouragement and Protection of Investments, draft of Jan. 11, 1982.
