§1643d Claims based on ownership interest in or debt or other obligations owing by corporations or other legal entities

Summary

Decide whether a claim about owning part of, or being owed money by, a company based on who the company is and what happened to its property. Ownership claims in a company that is a U.S. national are not considered. A claim about a debt owed by a company organized under U.S. law is considered only if the debt is a charge on property that the Government of Cuba or the Chinese Communist regime nationalized, expropriated, intervened in, or took. A direct ownership claim is considered if the company was not a U.S. national on the date of the loss, no matter how big the claimant’s share was. An indirect ownership claim is considered only if at least 25 percent of the whole company was owned by U.S. nationals when the loss happened. The claim amount equals the company’s total loss multiplied by the claimant’s ownership share at the time of loss.