Exxon Mobil Takes Cuba Asset Seizure Dispute to Supreme Court
ExxonMobil has taken its long-standing dispute with Cuba over seized oil and gas assets to the Supreme Court. The company alleges it has not been compensated for assets worth $70 million, taken by the Cuban government in 1960. The case, Exxon v. Corporación Cimex, was recently granted ahead of the new Supreme Court term. Exxon seeks clarification on pursuing compensation from the Cuban state-owned holding company. Despite the high-profile nature of the case, the identity of the lawyers representing ExxonMobil remains unknown at this time. This dispute is a remnant of the Cold War era, with tensions between the two countries dating back decades. ExxonMobil has long argued that it is owed compensation for the assets seized by Cuba's revolutionary government in the 1960s. The Supreme Court's decision on the Exxon v. Corporación Cimex case could have significant implications for future international disputes involving seized assets. Both parties await the court's ruling on whether ExxonMobil can pursue compensation for the assets taken over 60 years ago.
