Completed Programs - Romania

Program Overview

Number of Claims 1458
Number of Awards 583
Amount of Awards - Principal $62,002,450
Amount of Fund $22,664,213
Amount of Payment $1,000 plus 37.84% 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 Romania were deposited into a fund by the Department of the Treasury which was designated the Romanian Claims Fund, for payments on awards granted by the Commission in claims against Romania 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 Romania.  The Commission was also authorized to consider claims of nationals of the United States for losses based on the failure of the Romanian 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 Romanian Claims Fund created under Title II of the Act.  The amount available from the Romanian Claims Fund for payment was $20,164,212.68.  The Romanian Claims Program was completed on August 9, 1959.

On March 30, 1960, the United States concluded a formal claims settlement agreement with the Government of Romania. That agreement provided for the payment of the sum of $2.5 million in settlement of claims of nationals of the United States.  This $2.5 million was deposited into the Romanian Claims Fund to supplement the amount derived from the prior liquidation of Romanian assets for payments on awards granted by the Commission. 

A subsequent amendment to Title III of the Act authorized the Commission to consider claims against Romania which arose after the first program was authorized but prior to the conclusion of the claims settlement agreement with the government.  During the course of the program, the Commission issued decisions on a total of 385 claims.  It found 85 of those claims to be compensable, and made awards amounting to $1,091,102 in principal.  The second Romanian 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 Roumania; Treaty of peace with Roumania. Signed at Paris, February 10, 1947.

Agreement Between the United States of America and the Rumanian People's Republic Relating to Financial Questions Between the Two Countries.  Signed at Washington, March 30, 1960

Commission Decisions

Lead Decisions

Decisions and Annotations Regarding Claims Against Bulgaria, Hungary and Romania