State responsibility — Nature and kinds of — For taking of, or interference with, property — Gradual expropriation — Joint venture company established by State and foreign corporations — State progressively treating company as a State corporation — Expropriation of shareholding

State responsibility — Damages — Award of damages in general — Expropriation — Measure of damages — Basis of assessment Breach of contract — Assessment of damages

State responsibility — Damages — Indirect damages and damages for loss of profits — Entitlement to profits from joint venture

State responsibility — Interest — Rate of interest — ICSID arbitration — Power to fix rate ex aequo et bono — Rate of interest requested in Government counterclaim taken as point of reference

Disputes — Arbitration — In general — The law applied by arbitral tribunals — ICSID arbitration — Applicable law — Power of tribunal to rule ex aequo et bono

Disputes — Arbitration — In general — Appointment and withdrawal of arbitrators — ICSID arbitration — Appointment of president of Tribunal — Resignation of president

Disputes — Arbitration — Procedure — Competence — Competence to determine jurisdiction — ICSID arbitration — Claim of lis pendens Other challenges to jurisdiction — Jurisdiction over counterclaim

Disputes — Arbitration — Procedure — ICSID arbitration — Failure of State party to file pleadings within time limits — Whether party in default — Whether delay excused by political upheaval in State Counterclaim — Discretion of Tribunal to admit counterclaim — Costs — Whether party responsible for delay should bear other party's costs — Valuation of property — Expert report commissioned by Tribunal

State responsibility — Nature and kinds of — For other breaches of contractual obligations — Contract between State and foreign company — Joint venture agreement — Financial guarantees — Failure of State to honour undertakings in agreement — Interference in affairs of venture — Expropriation of foreign company's shareholding in joint venture — Applicable law — Compensation — Convention for the Settlement of Investment Disputes between State and Nationals of Other States, 1965

Damages — Measure of damages — Basis of valuation — Valuation by expert appointed by Tribunal

Arbitration — Arbitration between State and foreign company — ICSID arbitration — Procedure — Alleged default by one party Conduct amounting to a default — Extension of time-limits — Delay attributable to political upheaval in State — Jurisdiction — Lis pendens — Counterclaim — Admissibility — Power of Tribunal to rale ex aequo et bono — Expert report commissioned by Tribunal — Costs of proceedings