01/16/2020 | Press release | Distributed by Public on 01/17/2020 16:34
Latin America Advisor has featured Akin Gump senior policy advisor Anya Landau French in the article 'How Has Title III Affected Firms With Ties to Cuba?' The article addresses some of the repercussions from the Trump administration's decision to allow cases to proceed in court under Title III of the Helms-Burton Act, which targets companies that profit from property confiscated during the 1959 Cuban Revolution.
Landau French observed that two recent rulings 'granting motions to dismiss lawsuits under Title III of the Helms-Burton Act provide little meaningful insight into how such cases may ultimately be decided.' The threat of Title III lawsuits, however, has had 'a chilling effect on private sector interest in new opportunities in Cuba among U.S. and other companies.' Equally so, many companies with existing ties, she said, have chosen to remain in Cuba 'and build on their first-in advantage.'
As for firms not already in Cuba, Landau French said the lawsuits may discourage many from pursuing entry there, though 'they may be less of a deterrent to non-U.S. firms that have little or no presence in the United States.' She added that it could be at least another year before U.S. courts rule on fundamental questions concerning the validity and enforceability of Title III.'
In the end, Landau French pointed out, the answers to other questions, including the constitutionality of the Title III provisions 'and how U.S. courts will balance such claims against U.S. obligations under international law, could have implications for states and investors far beyond the Cuban market.'