!!!deutsches Eigentum

German Assets: Pursuant to a decision at the Potsdam Conference on 
August 1, 1945, the occupying powers ( Occupation of Austria 
1945-1955) had the right to claim the assets of the former German 
Reich or its citizens which were situated in their respective 
(Austrian) zones. While the Western Powers left theirs to the Republic 
of Austria, the Soviet Union made full use of this right. This 
involved not only the whole petroleum industry and the Danube Shipping 
Company, but also 10 % of Austria's industrial capacity and more 
than 150,000 hectares of landed property as well as commercial and 
industrial enterprises. These property holdings were administered by 
the  USIA; they long hindered the conclusion of the  State Treaty but 
were finally ceded to Austria upon payment of redemptions amounting to 
150 million dollars in 1955. In the same year several USIA firms 
became nationalised ( Nationalisation) on the basis of the 1%%sup st/% 
 and 2%%sup nd/%  Nationalisation Acts (1946 and 1947 respectively). 
In 1957, Austria and the Federal Republic of Germany concluded a 
treaty on these properties in order to solve the problem.

!Literature
G. Ploechl, Die Rechtsvorschriften ueber das deutsche 
Eigentum in Oesterreich samt den einschlaegigen Nebenbestimmungen, 
1959.


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