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SOCOMET Incorporated, Memorandum of determinations, IIC 1026 (1973), 14th May 1973, Chile (OPIC), Overseas Private Investment Corporation [OPIC]



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Whether the funds on the basis of which SOCOMET claimed constituted ‘investment earningsߣ.

Whether SOCOMET was prevented for 30 consecutive calendar days from eff ecting a transfer of local currency by operation of an administrative determination by the Central Bank of Chile, ie whether there was active blockage.

Whether SOCOMET took all reasonable steps to effect transfer of the relevant Argentine pesos into US dollars.

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

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

Legal Material.  3713 words. 

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

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