§1645d Claims Based on Ownership Interest in or Debt or Other Obligation Owing by Corporations or Other Legal Entities

Summary

Claims for losses tied to owning or being owed money by a company or other entity can only be considered under certain rules. If the entity was a U.S. national when the loss happened, ownership-based claims are not allowed. Debt claims against entities organized under U.S., state, District of Columbia, or Puerto Rico law are allowed only if the debt was secured by property that Vietnam seized. Direct ownership claims are allowed if the entity was not a U.S. national at the time of loss. Indirect ownership claims are allowed only if at least 25 percent of the entity was owned by U.S. nationals at the time of loss, or if U.S. nationals actually controlled the entity as the Commission decides. When a claim is allowed under those rules, the claim amount is the company’s total loss multiplied by the claimant’s ownership share at the time of the loss.