There Are 5,913 Certified Claims; But, Only 913, Or 15%, May Be Eligible To File A Lawsuit

Title III of the Cuban Liberty and Democratic Solidarity (Libertad) Act of 1996 requires that an asset had a value of US$50,000.00 when expropriated by the Republic of Cuba without compensation to the original owner. 

Of the 5,913 certified claims, 913, or approximately 15%, are valued at US$50,000.00 or more. 

Adjusted for inflation, US$50,000.00 (3.70% per annum) in 1960 has a value of US$427,267.01 in 2019. Adjusted for the 6% annual interest permitted by the United States Foreign Claims Settlement Commission (USFCSC- https://www.justice.gov/fcsc) at the United States Department of Justice, the value of US$50,000.00 in 2019 is US$1,649.384.54.

There are 8,821 claims of which 5,913 awards valued at US$1,902,202,284.95 were certified by the USFCSC have not been resolved for nearing sixty years.  The USFCSC permitted interest to be accrued in the amount of 6% per annum; with the current value of the 5,913 certified claims approximately US$8,521,866,156.95.  

From the United States District Court: “For filing an action brought under Title III of the Cuban Liberty and Democratic Solidarity (LIBERTAD) Act of 1996, P.L. 104-114, 110 Stat. § 785 (1996), $6,548. (This fee is in addition to the filing fee prescribed in 28 U.S.C. § 1914(a) for instituting any civil action other than a writ of habeas corpus.)” 

The United States District Court fees from 913 filings would be US$5,978,324.00, representing .31% of the total value of the certified claims. 

Adjusted for inflation (3.70% per annum), US$6,548.00 (the filing fee today) in 1960 has a value of US$55,954.89 in 2019.  

At US$6,548.00 (the filing fee), filings by 290,501 plaintiffs would yield US$1,902,202,284.95 and filings by 1,301,446 plaintiffs would yield US$8,521,866,156.95. 

There have been estimates of 200,000 potential filings by plaintiffs (individuals/entities who were subject to Republic of Cuba jurisdiction rather than individuals/entities subject to United States jurisdiction) having non-certified claims against the Republic of Cuba- those filing fees would yield US$1,309,600,000.00. 

LINK To Certified Claims List