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Agip Spa v. The Government of The People’s Republic of the Congo

ICSID (Arbitration Tribunal).  30 November 1979 .

Published online by Cambridge University Press:  01 January 2021

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Abstract

Expropriation — Nationalization — Nationalization by State of company in which it was a shareholder — Whether in the public interest — Whether nationalization incompatible with the contract between State and foreign company

Stabilization clauses — Nationalization — Whether in public interest — Whether compatible with stabilization clauses — Status of contract in international law — Duty to pay compensation — Repudiation by State of its contractual obligations — Proper law of agreement — Law of contracting State to be supplemented by international law — Whether local law subordinate to international law

Arbitrators — Appointment by ICSID in default of appointment by party Applicable law — Whether tribunal to act as friendly arbitrator — Existence of a dispute

Damages — Measure of damages — Loss of profits — Claim limited to nominal amount

Interest — Rate of interest — Date from which interest payable

Type
Case Report
Copyright
© Cambridge University Press 1993

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