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International Law Keyed to Damrosche
United States v. Belmont
Facts
Before to the 1918 nationalization and liquidation by the Soviet government, a Russian corporation had deposited money in Belmont (D), a private bank in New York City. In 1993, the Soviet Union and the United States (P) agreed to a final settlement of claims and counterclaims. The agreement of the Soviet Union was to take no steps to enforce claims against American nationals and assigned and released all such claims to the U.S. (P). The court however held that the situs of the bank deposit was within the state of New York and was not an intangible property right within soviet territory and that it would be contrary to the public policy of the State of New York to recognize or enforce the nationality decree when the U.S. (P) sought to recover the money. The U.S. (P) appealed to the Supreme Court which granted certiorari.
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