Certain judicial proceedings with respect to property of designated nationals.

§ 515.504 Certain judicial proceedings with respect to property of designated nationals. (a) Subject to the limitations of paragraphs (b), (c) and (d) of this section judicial proceedings are authorized with respect to property in which on or since the “effective date” there has existed the interest of a designated national. (b) A judicial proceeding is authorized by this section only if it is based upon a cause of action which accrued prior to the “effective date”. (c) This section does not authorize or license: (1) The entry of any judgment or of any decree or order of similar or analogous effect upon any judgment book, minute book, journal or otherwise, or the docketing of any judgment in any docket book, or the filing of any judgment roll or the taking of any other similar or analogous action. (2) Any payment or delivery out of a blocked account based upon a judicial proceeding nor does it authorize the enforcement or carrying out of any judgment or decree or order of similar or analogous effect with regard to any property in which a designated national has an interest. (d) If a judicial proceeding relates to property in which there exists the interest of any designated national other than a person who would not have been a designated national except for his relationship to an occupied area, such proceeding is authorized only if it is based upon a claim in which no person other than any of the following has had an interest since the “effective date”: (1) A citizen of the United States; (2) A corporation organized under the laws of the United States or any State, territory or possession thereof, or the District of Columbia; (3) A natural person who is and has been since the “effective date” a resident of the United States and who has not been a specially designated national; (4) A legal representative (whether or not appointed by a court of the United States) or successor in interest by inheritance, device, bequest, or operation of law, who falls within any of the categories specified in paragraphs (a) (1), (2), and (3) of this section but only to the same extent that their principals or predecessors would be qualified by such paragraphs.