Legal Material

Bank of America, Memorandum of determinations, IIC 1029 (1973), 24th July 1973, Chile (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 Bank of America (‘BoA’) was prevented from depositing Chilean escudos with OPIC.

Whether, by refusing to grant BoA’s request to transfer to OPIC the Chilean escudos at issue, which previously had been deposited with the Central Bank of Chile by Arauco, the Central Bank of Chile prevented BoA from receiving payments on notes in the currency specified in the loan agreement between BoA and Arauco.

Whether BoA established direct causation between the alleged expropriatory action and a default in scheduled payment on a note issued under the loan agreement between BoA and Arauco.

Whether BoA filed an application for compensation for expropriatory action within the 90-day timeframe required by the contract of guaranty.

Keywords: Expropriation; Date of expropriation (OPIC); Takings, legal and illegal (confiscatory measures); Inconvertibility; Deposit of local currency with OPIC (OPIC)

Legal Material.  3466 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. subscribe or purchase to access all content.