Legal Material

Chase International Investment Corporation, Memorandum of determinations, IIC 1065 (1978), 1978, Zaire (OPIC), Overseas Private Investment Corporation [OPIC]

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Whether the funds on the basis of which Chase International Investment Corporation (‘CIIC’) claimed constituted ‘investment earnings’ and whether the investment earnings were received on securities owned free and clear at the time of such receipt.

Whether CIIC was prevented for 90 consecutive calendar days from effecting a transfer of local currency by failure of the Government of Zaire to act, ie whether there was passive blockage.

Whether CIIC took all reasonable steps to effect transfer of the relevant zaires into US dollars.

Whether the inability of transfer resulted from a regulation in place on the date of the OPIC contract of guaranty.

What the reference rate for exchange was.

Keywords: Inconvertibility; All reasonable steps taken by the investor; Passive blockage; Pre-existing transfer regulation; Receipt of covered investment earning; Reference rate

Legal Material.  3318 words. 

Subjects: Public International Law ; International Law ; Arbitration ; Law

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