§1644d Claims Based on Ownership Interest in or Debt or Other Obligation Owing by Corporations or Other Legal Entities

Summary

Decides which claims under section 1644b based on owning part of, or loans to, a company can be reviewed when the German Democratic Republic took property. A claim based on owning part of a company that is a U.S. national will not be accepted. A claim about a debt owed by a company organized under U.S., state, District of Columbia, or Puerto Rico law is accepted only if the debt was secured by property that the German Democratic Republic nationalized, expropriated, or took. A direct ownership claim is accepted if the company was not a U.S. national on the date of the loss, no matter how big the owner’s share was. An indirect ownership claim is accepted only if U.S. nationals held at least 25 percent of the company when the loss happened. The claim amount equals the company’s total loss multiplied by the claimant’s ownership share at the time of the loss.