The Supreme Court agreed on Oct. 3 to consider Exxon Mobil’s bid to secure compensation from Cuban state-owned companies for energy-related assets nationalized decades ago by the island nation’s communist government.
The court did not explain its decision to grant the petition in Exxon Mobil Corp. v. Corporacion Cimex. No justices dissented.
The company, which was previously called Standard Oil Co., sued to seek compensation from Cuban government-owned companies for oil and natural gas assets seized in 1960.
Its lawsuit was initiated under the federal Helms-Burton Act, a 1996 law that allows Americans to sue “any person … that traffics” in confiscated property, including by possessing, transferring, using, or profiting from it, according to Exxon Mobil’s petition….