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U.S. Department of State Report on Nationalization, Expropriation, and Other Takings of U.S. and Certain Foreign Property Since 1960*

Published online by Cambridge University Press:  20 March 2017

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Type
Reports
Information
International Legal Materials , Volume 11 , Issue 1 , January 1972 , pp. 84 - 118
Copyright
Copyright © American Society of International Law 1972

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Footnotes

*

[Reproduced from U.S. Department of State, Bureau of Intelligence and Research, Research Study RECS-14 of November 30, 1971, entitled “Nationalization, Expropriation, and Other Takings of United States and Certain Foreign Property since 1960”, pp. 1-6 and pp. 19-60.

[Parts II and IV of the Study have been omitted. Part II concerns the “impact on assets of United States companies in noncommunist countries”; Part IV deals with “pending claims in communist countries”.

[The cutoff date for the information in the Study is June 30, 1971, with some notes added through August. There will be an updating of the Study in the future. International Legal Materials will carry the additional information as an addendum to the original Study. Foreign Service reports have been the principal source of the material contained in the Study.

[The United States policy statement on economic assistance and investment security in developing nations appears at page 239. The report on expropriation of American-owned property by foreign governments in the twentieth century, published by the U.S. House of Representatives’ Committee on Foreign Affairs on July 19, 1963, appears at 2 I.L.M. 1066 (1953).

References

* The advent to power of the Government of Colonel Hugh Banzer in August 1971 has improved the prospects for resolution of these cases.

* Taken over July 16, 1971, by the Government.

* Taken over July 16, 1971, by the Government.

** Completed July 31, 1971.

*** Price is to be based on book value.

* The Zambian Government announced on July 27 that it had rescinded its plan to nationalize all the country’s private banks. According to the announcement, the Government would enter into partnership only with the Commercial Bank of Zambia, would require all other banks wishing to operate in Zambia to incorporate there, and would transfer all bank business from the Merchant Bank of Zambia to other private banks.

* On January 1, 1964 virtually all internal petroleum marketing facilities were nationalized. The largest distributor, Royal Dutch Shell, lost about as many installations as the two US firms combined and received about $7 million.