The Bank for International Settlements Arbitration (2002 and 2003) concerned the compensation to be paid for privately held shares recalled by the Bank for International Settlements on 8 January 2001. The issues in dispute included the lawfulness of the recall of the shares and the applicable standards for valuation of those shares, the adequacy of the amount paid by the Bank for the shares, and the amount of compensation to be paid. The Tribunal's awards contribute greatly to existing jurisprudence on matters including valuation of an expropriated asset, the award of interest, and the right to damages for breach of an arbitration agreement where one party seeks to bring a claim on the merits before a domestic court. This bilingual edition contains the awards rendered in this arbitration in both English and French, with an introduction by V. V. Veeder, who appraises the contribution of the awards to international law.
• Comprises the partial and final arbitral awards rendered under PCA auspices concerning a dispute between one of the world's oldest international financial organizations, the Bank for International Settlements, and private shareholders of the bank • Addition of scholarly commentary by V. V. Veeder will be invaluable to scholars of international law, as well as to practitioners of international law • Includes the Tribunal's French translations of the awards, as well as a French translation of V.V. Veeder's commentary
Contents
1. Foreword/Avant-propos; 2. Introduction: The Bank for International Settlement Arbitration - its contribution to international law V.V. Veeder; 3. Partial award on the lawfulness of the recall of the privately held shares on 8 January 2001 and the applicable standards for valuation of those shares; 4. Final award on the claims for compensation for the shares formerly held by the claimants, interest sue rhereon and xosts of the arbitration and on the counterclaim of the bank against First Eagle Sogen Funds, Inc.; 5. Introduction: L'arbitrage concernant la Banque des règlements internationaux - Sa contribution au droit international V. V. Veeder; 6. Sentence partielle concernant la licéité de la reprise des actions détenues par des personnes privées decidée le 8 janvier 2001 et les normes applicables pour l'évaluation desdites actions; 7. Sentence définitive concernant les demandes d'indemnisation pour les actions anciennement détenues par les demandeurs, les intérêts dus en conséquence et les frais d'arbitrage et concernant la demande reconventionnelle formée par la banque contre First Eagle Sogen Funds, Inc.
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