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Cablegate: Nicaragua: Amcit Property Claims Monthly Update: March

VZCZCXYZ0022
RR RUEHWEB

DE RUEHMU #0517/01 1202038
ZNR UUUUU ZZH
R 292038Z APR 08
FM AMEMBASSY MANAGUA
TO RUEHC/SECSTATE WASHDC 2514
INFO RUEATRS/DEPT OF TREASURY WASHINGTON DC
RUEHZA/WHA CENTRAL AMERICAN COLLECTIVE

UNCLAS MANAGUA 000517

SIPDIS

STATE FOR WHA/CEN, EB/IFD/OIA, AND L/CID
STATE ALSO FOR WHA/EPSC
STATE PASS TO USTR
TREASURY FOR INL AND OWH

SIPDIS

E.O. 12958: N/A
TAGS: EINV ECON USTR KIDE NU
SUBJECT: NICARAGUA: AMCIT PROPERTY CLAIMS MONTHLY UPDATE: MARCH
2008

REFS: A) MANAGUA 301 B) MANAGUA 173

SUMMARY
-------

1. In March 2008, the Government of Nicaragua (GON) resolved 5
claims, and 2 U.S. citizens withdrew a total of 4 claims from the
Embassy Property Office database. With the inclusion of 5 claims
resolved in March, the GON has resolved 12 claims during the
2007-2008 waiver year. The Property Office database now includes
657 registered property claims belonging to 309 Amcits. Most
resolutions have involved compensation via government-issued
indemnification bonds ("bonos de pago de indemnizacion" or BPIs).
As of March 31, 2008, the GON has issued BPIs with a face value of
$324,059,784 to Embassy-registered claimants during this waiver
year. Since taking office in January 2007, the Ortega
administration has resolved a total of 17 claims.

EMBASSY-REGISTERED CLAIMS RESOLVED IN MARCH 2008
--------------------------------------------- ---

2. On March 6, 2008, Dr. Elizabeth Karim, legal representative for
U.S. citizen Octavio Bustamante, provided a copy of the final
settlement document (finiquito) to the Embassy Property Office
attesting that on August 24, 2007, the GON compensated Bustamante
with BPIs for three fishing vessels. Mr. Bustamante settled with
the GON for BPIs with a face value of 330,200 cordobas,
approximately $17,257.50. We have updated our database to reflect
this settlement.

Type of No. of Type of
Claimant Claim Claims Resolution
-------- ------- ------ ----------
Bustamante, Octavio vessels 3 bonds


3. On March 4, 2008, Dr. Ricardo Larga Espada, legal representative
for U.S. citizen Perla Ordonez, informed the Property Office that
she has control of 2 Embassy-registered claims and he requested that
we remove the cases from our database.

Type of No. of Type of
Claimant Claim Claims Resolution
-------- ------- ------ -----------
Ordonez, Perla houses 2 prop. returned


EMBASSY REGISTERED CLAIMS WITHDRAWN BY U.S. CITIZEN
--------------------------------------------- ------

4. On March 4, Dr. Ricardo Larga Espada, legal representative for
U.S. citizen Perla Ordonez, requested that the Property Office
remove 1 Embassy-registered claims from our database because this
case is a private dispute with her neighbor.

5. On March 6, 2008, Dr. Elizabeth Karim, the legal representative
for U.S. citizen Octavio Bustamante, requested that the Property
Office remove 3 Embassy-registered claims from our database because
the properties were foreclosed by a bank on November 28, 1996, so
there is no longer any claim pending against the GON for these
properties.

Type of No. of
Claimant Property Claims
-------- -------- ------
Ordonez, Perla house 1

Bustamante, Octavio houses 2
land 1


STATUS OF AMCIT PROPERTY AS OF 03/31/08
---------------------------------------

6. The following is a snapshot of current U.S. citizen property
claims. The Embassy maintains separate databases for claims
registered before and after the July 31, 2005, deadline in the
Consolidated Appropriations Act.


EMBASSY-REGISTERED CLAIMS NUMBER
------------------------- ------
Total Amcits with pending claims 309

Total Amcit claims pending resolution 657


EMBASSY-REGISTERED CLAIMS BY CALENDAR YEAR NUMBER
------------------------------------------ ------
Claims resolved in calendar year 2008 7

Claims resolved in calendar year 2007 10

Claims resolved calendar year 2006 81

Claims resolved calendar year 2005 126

Claims resolved calendar year 2004 218

Claims resolved calendar year 2003 243

Claims resolved calendar year 2002 125

Claims resolved calendar year 2001 175

Claims resolved calendar year 2000 70


EMBASSY-REGISTERED CLAIMS RESOLVED BY WAIVER YEAR NUMBER
--------------------------------------------- ---- ------
Registered claims resolved so far in 2007-08 12
(waiver year: August 1, 2007 - July 31, 2008)

Registered claims resolved 2006-07 waiver year 34

Registered claims resolved 2005-06 waiver year 86

Registered claims resolved 2004-05 waiver year 187

Registered claims resolved 2003-04 waiver year 214

Registered claims resolved 2002-03 waiver year 183

Registered claims resolved 2001-02 waiver year 160

Registered claims resolved 2000-01 waiver year 142

Registered claims resolved 1999-00 waiver year 77

Registered claims resolved 1998-99 waiver year 156

Registered claims resolved 1997-98 waiver year 204

Registered claims resolved 1996-97 waiver year 145


EMBASSY-REGISTERED CLAIMS UNDER GON CONTROL NUMBER

------------------------------------------- ------

Total Amcit properties under GON control 54
(subject to revision)

GON-held claims resolved 2007-08 waiver year 0

GON-held claims resolved 2006-07 waiver year 0

GON-held claims resolved 2005-06 waiver year 3

GON-held claims resolved 2004-05 waiver year 16

GON-held claims resolved 2003-04 waiver year 12

GON-held claims resolved 2002-03 waiver year 11

GON-held claims resolved 2001-02 waiver year 26

GON-held claims resolved 2000-01 waiver year 2

GON-held claims resolved 1999-00 waiver year 2

GON-held claims resolved 1998-99 waiver year 5

GON-held claims resolved 1997-98 waiver year 29

GON-held claims resolved (total) 176


CLAIMS DISMISSED BY GON DURING THE 2007-08
WAIVER YEAR NUMBER
------------------------------------------ ------

JANUARY 2008 34

NOVEMBER 2007 18


COURT DECISION AGAINST CLAIMANT
(CLAIM WITHDRAWN BY AMCIT) NUMBER
------------------------------- ------
9

CLAIMS WITHDRAWN BY AMCIT
(PROPERTY UNDER AMCIT CONTROL) NUMBER
------------------------------ ------
1


TOTAL CLAIMS RESOLVED BY LAND SWAPS NUMBER
----------------------------------- ------
6

TOTAL CLAIMS COMPENSATED IN BONDS
(face value of bonds $324.00 million) NUMBER
------------------------------------- -----
1,862


NON-REGISTERED RESOLUTIONS BY WAIVER YEAR NUMBER
----------------------------------------- ------
Non-registered resolutions 2007-08 waiver year 0

Non-registered resolutions 2006-07 waiver year 12

Non-registered resolutions 2005-06 waiver year 30

Non-registered resolutions 2004-05 waiver year 0

Non-registered resolutions 2003-04 waiver year 6

Non-registered resolutions 2002-03 waiver year 22

Non-registered resolutions 2001-02 waiver year 93

Non-registered resolutions 2000-01 waiver year 300

Non-registered resolutions 1999-00 waiver year 455

Non-registered resolutions 1998-99 waiver year 310

Non-registered resolutions 1997-98 waiver year 230

Non-registered resolutions 1996-97 waiver year 208


NON-WAIVER CLAIMS REGISTERED AFTER JULY 31, 2005 NUMBER
--------------------------------------------- --- ------
Total Amcit claimants registered with Embassy 12

Total Amcit claims pending resolution 18

TRIVELLI

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