Unpaid Foreign Claims
Final Payment of Claims under the January 15, 2009 Referral:
The Foreign Claims Settlement Commission (FCSC) has completed its adjudication of claims and review of final appeals under the Libya Foreign Claims Program. The FCSC has also certified its final award to Treasury for payment. Therefore, Treasury is prepared to begin making final payments to awardees under the January 15, 2009 Referral. Furthermore, based on the aggregate amount of all awards certified by the FCSC to Treasury for payment, Treasury calculates that there are sufficient funds available under the Libya program to support making final payments to awardees in amounts that, when added to previous payments, will total 100% of their award amounts. Under these circumstances, pro rata payments are no longer necessary, and awardees will receive, in total, 100% of their awards.
Within two weeks of this posting date, awardees can expect to receive a set of documents similar to those they received in regards to previous payments from Treasury under the Libya program. Awardees must sign and notarize (where required) the documents, and are encouraged to promptly return them to Treasury. Upon receipt of properly completed documents, Treasury will process the awards and make payment via EFT. Awardees should allow 2 – 4 weeks from the time Treasury receives their signed documents to receive final payments.
Partial Payment of Claims Under the January 15, 2009 Referral:
Federal law specifies that the Secretary of the Treasury must make payments for foreign claims programs by following certain procedures as detailed in 22 United States Code Section 1627 (e). First, Treasury must make an initial payment of $1,000. Then, Treasury will make pro rata payments. In order to determine the amount of the pro rata payment, it is necessary to determine the aggregate unpaid principal balance of all such awards under the program. This aggregate unpaid principal balance can then be compared to the funds available in order to determine the percentage of the total award that can be paid to each claimant.
As stated by the Foreign Claims Settlement Commission (FCSC) , it is currently adjudicating claims of U.S. nationals against Libya pursuant to the terms of the Claims Settlement Agreement of August 14, 2008, between the United States of America and the Great Socialist People's Libyan Arab Jamahiriya, as implemented pursuant to the Libyan Claims Resolution Act, Pub. L. 110-301 and Executive Order 13477 dated October 31, 2008, and referred to the Commission by the U.S. Department of State by letters dated December 11, 2008, and January 15, 2009, pursuant to 22 U.S.C. 1623(a)(1)(c). The Commission is currently processing claims which qualify under both the December 11, 2008, and January 15, 2009, referral letters.
Awards that are approved by the FCSC are subsequently certified to the U.S. Department of the Treasury, Financial Management Service (FMS) for payment. FMS is currently disbursing awards based on claims which qualify under the U.S. Department of State referrals letters and which have been adjudicated and approved by the FCSC. Acceptance and approval of claims under the Libya Claims Program is the sole responsibility of the FCSC.