LAFARGEHOLCIM FACES $270 MILLION COMPENSATION CLAIM OVER VIOLATION OF US SANCTIONS IN CUBA

On 12 October, Global Cement reported that the building materials producer faces a court action in Florida, where the court has accepted a request for damages from over 20 parties from Cuba whose land was nationalised and subsequently had a cement plant built on it.  The action is brought under Title III of the Helms-Burton Act.  Switzerland-based Holderbank held a stake in the partly-state owned Carlos Marx cement plant near Cienfuegos since 2001 via a “complex network of letterbox companies and transactions” in the Netherlands and Spain, according to the Tages Anzeiger newspaper.  Holderbank later became Holcim and then LafargeHolcim.

https://www.globalcement.com/news/item/11459-lafargeholcim-faces-us-270m-compensation-claim-over-violation-of-us-sanctions-in-cuba

I had omitted the following link (as it did not seem to generate much interest!), but it seemed time to add it again and say that, if you would like to make a (polite) gesture and help me with my removal and computer costs, I have a page at https://www.buymeacoffee.com/KoIvM842y

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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