|Number of Claims||3,898|
|Number of Awards||1,899|
|Amount of Awards - Principal||$77,880,353|
|Amount of Fund||$102,010,961|
|Amount of Payment||
100% of Principal plus 50% Interest
Title VI of the ICSA (22 U.S.C. § 1644 et seq.) authorized the Commission to receive and determine claims against the German Democratic Republic (GDR) for losses which arose from the nationalization, expropriation or other taking by that government of property interests of U.S. nationals. When the program was authorized, no funds were available for payment of the awards issued by the Commission. The program was completed on May 16, 1981.
The Department of State subsequently conducted negotiations with the GDR - and, after the unification of Germany on October 1, 1990 with the Federal Republic of Germany - to obtain a claims settlement providing funds for payment of the Commission’s awards. Those negotiations culminated in the signing of a settlement agreement on May 13, 1992, in which Germany assented to payment of up to $190 million to settle and discharge the claims against it. Agreement Concerning the Settlement of Certain Property Claims, U.S.-F.R.G., May 13, 1992, T.I.A.S. 11,959. Its initial payment was $160 million, with up to an additional $30 million to be paid if needed. The agreement allowed claimants to elect either to accept payment of their Commission awards or to waive their right to payment in order to pursue claims for their properties under German law. In April 1997, the United States and Germany exchanged diplomatic notes fixing the amount of “final transfer” under the May 1992 agreement at $102,010,961.47 to cover the claims of claimants who elected to receive payment of their Commission awards.
Pub. L. No. 94-542, 90 Stat. 2509 (1976); (22 U.S.C. 1644 et seq.)
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