Conflicts Keyed to Currie
Banco National de Cuba v. Sabbatino
Cuba nationalized the property of Americans in Cuba in response to a U.S. reduction of Cuba’s quota for sugar imports, including that belonging to Compania Azucarera Vertientes (CAV), a sugar corporation mainly owned by U.S. residents. CAV had contracted to sell the sugar to Farr, Whitlock & Co., a U.S. commodities broker. Far entered into a second contract with the Cuban government to buy sugar from them. Farr shipped the sugar and received payment, but turned the earnings over to CAV’s receiver, Sabbatino (Defendant). Cuba assigned its rights under contract to Banco Nacional (Plaintiff), which filed suit. The district court found in favor of Sabbatino (Defendant) and the court of appeals affirmed.
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