State responsibility — Nature and kinds of State responsibility — For taking of, or interference with, property — Nationalization — Nationalization by State of company in which it was a shareholder Whether in the public interest — Whether nationalization incompatible with contract between State and foreign company

State responsibility — Damages — Award of damages in general — Damages for breach of contractual undertakings given by State — Damages for nationalization contrary to contractual undertakings — Lucrum cessans and damnum emergens

State responsibility — Damages — Indirect damages and damages for loss of profits — Violation by State of contractual undertakings given to foreign company — Nationalization contrary to contractual undertakings — Entitlement to damages for loss of profits — Claims limited to request for nominal damages

State responsibility — Interest — Rate of interest — Damages for breach of contract

State responsibility — Interest — Dies a quo — Award of interest on damages for breach of contract

Disputes — Arbitration — In general — Conception and function of arbitration — Arbitration under Convention for the Settlement of Investment Disputes between States and Nationals of Other States, 1965

Disputes — Arbitration — In general — The law applied by arbitral tribunals — Tribunal directed to apply local law supplemented if necessary by international law — Whether local law subordinate to international law

Disputes — Arbitration — In general — Appointment of arbitrators — Convention for the Settlement of Investment Disputes between States and Nationals of Other States, 1965 — Failure of one party to appoint arbitrator — Appointment of arbitrator by International Centre for Settlement of Investment Disputes under Article 38 of Convention

State responsibility — Nature and kinds of — For other breaches of contractual obligations — Contract between State and foreign company — Stabilization clauses — Nationalization — Whether in the 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 — Convention for the Settlement of Investment Disputes between States and Nationals of Other States, 1965

Damages — Measure of damages — Loss of profits — Claim limited to nominal amount — Interest — Rate of interest — Date from which interest payable

Arbitration — Arbitration between State and foreign company — ICSID arbitration — Procedure — Appointment of arbitrators — Appointment by International Centre for Settlement of Investment Disputes in default of appointment by party — Applicable law — Whether Tribunal to act as friendly arbitrator — Existence of a dispute