Legal Material

Citibank NA, Memorandum of determinations, IIC 1077 (1979), 1979, Zaire (OPIC), Overseas Private Investment Corporation [OPIC]



More Like This

Show all results sharing these subjects:

  • Public International Law
  • International Law
  • Arbitration
  • Law

GO

Show Summary Details

Preview

Whether the funds on the basis of which Citibank claimed constituted ‘investment earnings’ and whether the investment earnings were received on securities owned free and clear at the time of such receipt.

Whether Citibank was prevented for 60 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 Citibank 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; Securities owned free and clear (OPIC)

Legal Material.  4271 words. 

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

Full text: subscription required

How to subscribe Recommend to my Librarian

Users without a subscription are not able to see the full content. Please, subscribe or login to access all content.