Suchergebnisse

Jurisdiction — Territorial limits of — Foreign confiscatory legislation — Nationalization of foreign company — Substitution of state enterprise — Appointment of administrator of assets of former company situate in forum State — Validity of appointment — Locus standi of State enterprise to appeal against appointment — The law of Austria.Recognition of acts of foreign States and Governments — Foreign confiscatory decree — Nationalization of foreign company — Substitution of State enterprise — Assets of nationalized company in forum State — Appointment of administrator of assets in forum State — Whether appointment valid — Locus standi of State enterprise to appeal against appointment — The law of Austria.

One of the more important developments in Iraq since the 1958 overthrow of the Hashemite monarchy was the nationalization of the Iraqi Petroleum Company on 1 June 1972. The nationalization of the IPC was the culmination of a long-standing power struggle between the IPC and the Iraqi government. This analysis is concerned with that power struggle and the consequent nationalization of the IPC.

700Expropriation — Public interest — Extent of State's right to nationalize — Property of nationals — Requirement of public necessity — Discrimination — Measures directed against particular companies — Requirement of equality of treatment — Extraterritorial effect — Nationalization of companies with their seats in the nationalizing State — Effect on assets situated abroad — Compensation — Requirement of just and prior compensation — Principles of assessment — Valuation of expropriated property — Valuation based partly on value of shares during reference period and partly on companies' assets and profits — Appropriate length of reference period — Whether adjustment should be made to take account of changes after the end of the reference period — Allowance for inflation — Differences in the treatment of shares in quoted and unquoted companies — Nationalization of major French banks, 1981–2 — Whether compatible with French Constitution — The law of France