Completed Programs - Bulgaria

Program Overview

Number of Claims 453
Number of Awards 230
Amount of Awards - Principal $4,825,586
Amount of Fund $3,076,234
Amount of Payment $1,000 plus 69.71% of Principal

 

Title II of the International Claims Settlement Act of 1949, as amended (the Act), provided for the vesting and liquidation of enemy assets which had been blocked by the United States during World War II, and for the deposit of the proceeds into separate special funds, according to the respective government ownership of those assets prior to blocking.  The proceeds from the liquidation of assets formerly owned by Bulgaria were deposited into a fund by the Department of the Treasury which was designated the Bulgarian Claims Fund, for payments on awards granted by the Commission in claims against Bulgaria under Title III of the Act. 

Title III of the Act authorized the Commission to consider claims of nationals of the United States for losses arising out of war damages, nationalization, compulsory liquidation, or other taking of property prior to August 9, 1955, by the Government of Bulgaria.  The Commission was also authorized to consider claims of nationals of the United States for losses based on the failure of the Bulgarian government to meet certain debt obligations expressed in the currency of the United States.  Payments on the awards granted in these claims were made from the Bulgarian Claims Fund created under Title II of the Act.  The amount available from the Bulgarian Claims Fund for payment was $2,676,234.49.  The Bulgarian Claims Program was completed on August 9, 1959.

On July 2, 1963, the United States concluded a formal claims settlement agreement with the Government of Bulgaria.  Under that agreement, the Government of Bulgaria paid the sum of $400,000 in settlement of claims of nationals of the United States.  This amount was deposited into the Bulgarian Claims Fund to supplement the amount derived from the prior liquidation of Bulgarian assets for payments on awards granted by the Commission. 

An amendment to Title III of the Act authorized the Commission to consider claims against Bulgaria which arose after the first program was authorized but prior to the conclusion of the claims settlement agreement with the government.  The second Bulgarian Claims Program was completed on December 24, 1971, as required by the statute.

Statutory Authority

First Program – Pub. L. No. 84-285; (22 U.S.C. 1631 et seq.); (22 U.S.C. 1641)

Second Program – Pub. L. No 90-421; (22 U.S.C. 1631 et seq.); (22 U.S.C. 1641)

Pertinent International Agreements

Union of Soviet Socialist Republics, United Kingdom of Great Britain and Northern Ireland, United States of America, Australia, Byelorussian Soviet Socialist Republic, Etc., and Bulgaria; Treaty of Peace with Bulgaria. Signed at Paris, February 10, 1947.

 Agreement Between the Government of the United States of America and the Government of the People's Republic of Bulgaria Regarding Claims of United States Nationals and Related Financial Matters.  Signed at Sofia, July 2, 1963

Precedent Decisions 

Decisions and Annotations Regarding Claims Against Bulgaria, Hungary and Rumania