§1643d Claims Based on Ownership Interest in or Debt or Other Obligations Owing by Corporations or Other Legal Entities

Summary

Sets rules for which claims tied to owning or lending to companies can be considered for payment. Claims based on owning part of a company that is itself a U.S. national cannot be considered. Claims based on debts owed by companies organized under U.S., State, D.C., or Puerto Rico law can be considered only if the debt is secured by property that the Government of Cuba or the Chinese Communist regime nationalized, expropriated, intervened in, or took. If you owned a company directly, your claim can be considered only if the company was not a U.S. national when the loss happened, no matter how big your share was. If your ownership was indirect, your claim can be considered only if at least 25 percent of the whole company was owned by U.S. nationals at the time of the loss. Any award is based on the company’s total loss and your share of ownership at the time of the loss.