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Anaconda Company and Another v. Overseas Private Investment Corporation
Published online by Cambridge University Press: 01 January 2021
Abstract
State responsibility — Nature and kinds of State responsibility — For other breaches of contractual obligations — Foreign company obliged to transfer assets to new mixed ownership company — State corporation acquiring shares — Payment by shares linked to payment of dividends by new company — Government subsequently nationalizing new company and cancelling agreement for payment for shares — Whether expropriation of foreign company's interest in purchase price of shares — OPIC insurance contract — The law of the United States
State responsibility — Nature and kinds of State responsibility — For taking of, or interference with, property — OPIC insurance contract — Meaning of “expropriatory action” — Company persuaded to negotiate agreement with government under threat of nationalization — Agreement providing for transfer of company's assets to mixed ownership company — Provision for purchase of shares by State corporation — Whether agreement voluntary — Whether expropriatory action — Whether property capable of being subject to two expropriatory acts — Date of expropriation — Principles and scope of OPIC insurance — The law of the United States
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