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  • N Jansen Calamita (a1)

The British Government's nationalization of the shares of Northern Rock plc and Bradford & Bingley plc in 2008 raises important issues about the standard of protection owed to the banks' non-UK investors and the manner in which compensation should be calculated. The United Kingdom is party to numerous bilateral investment treaties as well as the European Convention on Human Rights, which adopt an international standard of protection for foreign investors and require the payment of ‘market value’ compensation for the property taken. As the analysis in this article shows, the compensation scheme established by the British Government appears to fall short of these obligations.

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CF Amerasinghe , ‘Issues of Compensation in the Taking of Property in the Light of Recent Cases and Practice’ (1992) 41 ICLQ 22, 30

Irmgard Marboe , ‘Compensation and Damages in International Law: The Limits of “Fair Market Value”’ (2006) 7 J World Trade & Invest 723, 730 (2006)

Maurice Mendelson , ‘The United Kingdom Nationalization Cases and the European Convention on Human Rights’ (1986) 57 Brit YB of Int'l Law 33 (1986)

M Mendelson , ‘International Law and the Valuation of Nationalized Shares: Two French Decisions’ (1985) 34 ICLQ 284, 284

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International & Comparative Law Quarterly
  • ISSN: 0020-5893
  • EISSN: 1471-6895
  • URL: /core/journals/international-and-comparative-law-quarterly
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