Havana Docks Corp. v. Royal Caribbean Cruises, Ltd. · ¶1

In 1928, the United States-based Havana Docks Corporation acquired from the Cuban Government a property interest in the development and operation of docks at the Port of Havana. That property interest, a usufructuary concession, was time-limited and set to expire in 2004. The Cuban Government agreed that, if it expropriated the docks before 2004, it would compensate Havana Docks for the value of the works it had constructed. After Fidel Castro seized power in 1959, the new Cuban Government decreed that it would forcibly take American-owned properties and enterprises in Cuba and specifically identified Havana Docks. As relevant here, the Cuban Government seized, without compensation, the docks that Havana Docks had constructed and its property interest in those docks. Havana Docks fled a claim with the Foreign Claims Settlement Commission, which certified about $9 million in losses, plus…

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