B-160559 June 12, 1967

B-160559: Jun 12, 1967

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Was entered as the proposed decision on the Commission on August 4. The claim was originally filed by the American-Yugoslav electric Company. The property of which was damaged and nationalized or otherwise taken by the Government of Yugoslavia. The record shows that the American-Yugoslav Electric Company was dissolved on December 19. That its assets including the claim for war damages in Yugoslavia were transferred to the International Public Service Corporation. The latter corporation was dissolved on February 19. Its assets including the claim for war damages in Yugoslavia were transferred to the three claimants herein. Who were the owners of all of the outstanding shares of stock issued by said corporation in the amount of 5.

B-160559 June 12, 1967

Mr. Sidney S. Sokol, Commissioner Bureau of Accounts Treasury Department

Dear Mr. Sokol:

By letter dated November 15, 1966, the Chief, Investments Branch, Division of Deposits and Investments, Bureau of Accounts, submitted for my determination under section 7(c) of the International Claims Settlement Act of 1949, approved March 10, 1950, ch. 54, 64 Stat. 16, as amended, 22 U.S.C. 1626(c), the question as to the proper persons to receive an award made by the Foreign Claims Settlement Commission. This award, captioned C.R. BRECK, LOUISE N. BRBCK, WHITE SECURITIES CORPORATION, Claim No. W-3006, Decision No. W-152, was entered as the proposed decision on the Commission on August 4, 1964, and in the absence of objections become final 20 days thereafter.

The claim was originally filed by the American-Yugoslav electric Company, owner of 99.94 percent interest in a Yugoslav corporation, Novi Bad Electric Company, the property of which was damaged and nationalized or otherwise taken by the Government of Yugoslavia. The record shows that the American-Yugoslav Electric Company was dissolved on December 19, 1957, and that its assets including the claim for war damages in Yugoslavia were transferred to the International Public Service Corporation. The latter corporation was dissolved on February 19, 1958, and its assets including the claim for war damages in Yugoslavia were transferred to the three claimants herein, C.R. Breck, Louise N. Breck, and White Securities Corporation, who were the owners of all of the outstanding shares of stock issued by said corporation in the amount of 5,260 shares, 5279 shares and 10,989 shares, respectively.

Therefore, pursuant to the law codified at 22 U.S.C. 1626(c)(2), I find that C.R. Breck, Louise N. Breck, and White Securities Corporation are the proper persons to receive the award made herein by the Foreign Claims Settlement Commission, and that check or checks in the proper amount should be made payable to them and mailed to their attorney, John P. Campbell, Esquire, Curtis, Mallet-Prevost, Colt & Nosle, Room 2500, 63 Wall Street, New York, New York 10005.

The file forwarded with the letter of November 15, 1966, is returned as requested.

Sincerely yours,

(Signed) Elmer B. Staats Comptroller General of the United States

Enclosure