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trade. The Cuban treasury received all of Bancec's profits,
after deduction for capital reserves. Delegates from Cuban
governmental ministries governed and managed Bancec, and its
president was also Minister of State. The Court applied
equitable principles of domestic and international law, focusing
in part on the fact that denying the right of setoff would have
benefitted only the Cuban Government, as the owner of Bancec.
The separate legal status of Bancec was specifically considered
and disregarded. Id. at 630 (quoting from Bangor Punta
Operations, Inc. v. Bangor & Aroostook R. Co., 417 U.S. 703, 713
(1974)).
In Lebron v. National R.R. Passenger Corp., 513 U.S. ,
115 S.Ct. 961 (1995), the Supreme Court considered the question
whether the National Railroad Passenger Corp., commonly known as
Amtrak, is a U.S. Government entity for First Amendment purposes.
Describing Amtrak as a Government-created and -controlled
corporation, the Court decided that it was. Specifically, the
Court focused on two factors: Amtrak was created by a special
statute, explicitly for the furtherance of Federal governmental
goals; and six of its eight directors were appointed by the
President of the United States with the advice and consent of the
Senate.
In Vial v. Commissioner, 15 T.C. 403 (1950), this Court
determined that the employees of the Corporacion de Fomento de la
Produccion (Fomento) were employees of the Chilean Government,
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