The US Supreme Court on Tuesday reversed and remanded rulings by lower courts, reviving Exxon Mobil's (XOM) lawsuit seeking more than $1 billion in damages from Cuban government-owned companies over assets confiscated following Fidel Castro's seizure of power in 1959.
The US Supreme Court on Tuesday reversed and remanded lower-court rulings, reviving Exxon Mobil's (XOM) lawsuit against Cuban state-owned companies over assets confiscated following Fidel Castro's rise to power.
"The Helms-Burton Act itself abrogates the sovereign immunity of Cuban agencies and instrumentalities; plaintiffs who sue Cuban agencies or instrumentalities under the Act need not also satisfy one of [the Foreign Sovereign Immunities Act's] enumerated exceptions to foreign sovereign immunity," the court said in its ruling.
Exxon Mobil did not immediately reply to a request for comment from.
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