The Bank for International Settlements Arbitration Awards of 2002 and 2003

ISBN-13: 9789067042345 / Angielski / Twarda / 2007

Belinda Macmahon; V. V. Veeder

Opis

1. On 20 January 1930, the Governments of Germany, Belgium, Great Britain, Italy, Japan and Switzerland concluded at The Hague, the Convention respecting the Bank for International Settlements. The Convention included the Constituent Charter and the Statutes of the Bank (hereafter the Convention, the Constituent Charter and the Statutes of the Bank will be referred to collectively as the Constituent Instruments ). The Bank for International Settlements (hereafter the Bank or BIS ) was organized, by Article 1 of the Statutes, as a Company limited by shares and its objects, according to Article 3, were to promote the co-operation of central banks and to provide additional facilities for international financial operations; and to act as trustee or agent in regard to international financial settlements entrusted to it under agreements with the parties concerned. 2. In extending invitations to subscribe to capital in the Bank, Article 10 of the Statutes prescribed that consideration shall be given by the Board of Directors of the Bank] to the desirability of associating with the Bank the largest possible number of central banks. 3. The shares did not convey any rights in the governance of the Bank."

Spis treści

The Bank for International Settlements Arbitration.- The Bank for International Settlements Arbitration.- 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.- — Introduction.- — Procedural History.- — The Parties And Their Claims.- — Question 1 Of Procedural Order No. 3.- — Question 2 Of Procedural Order No. 3.- — Other Matters.- — Decisions.- Final Award on the Claims for Compensation for the Shares Formerly Held by the Claimants, Interest Due Thereon and Costs of the Arbitration and on the Counterclaim of the Bank Against First Eagle Sogen Funds, Inc..- — Introduction.- — Procedural History.- — The Parties’ Claims.- — The Award.- — Decisions.- L’Arbitrage Relatif A La Banque Des RÈGlements Internationaux.- L’Arbitrage Relatif A La Banque Des RÈGlements Internationaux.- 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.- —Historique De La ProcÉDure.- — Les Parties Et Leurs Demandes.- — PremiÈRe Question De L’Ordonnance De ProcÉDure No 3.- — DeuxiÈMe Question De L’Ordonnance De ProcÉDure No 3.- — Autres Questions.- — DÉCisions.- Sentence definitive concernant des demandes d’indemnisation pour les actions anciennement détenues par les demandeurs, les interêts dus en conséquence et les frais d’arbitrage et concernant la demande reconventionnelle formée par la banque contre First Eagle Sogen Funds, Inc..- — Introduction.- — Historique De La Proc NÉDure.- — Les Parties Et Leurs Demandes.- — La Sentence.- — Decisions.

Blurb

With a Foreword by Tjaco T. van den Hout, Secretary-General of the Permanent Court of Arbitration and an Introduction by V.V. Veeder Q.C.

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 International Settlements for the recalled shares, and the amount of compensation to be paid. The Tribunal’s awards contribute greatly to existing jurisprudence on matters such as 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 bi-lingual edition contains the official English version of the awards rendered in the Bank for International Settlements Arbitration, together with the Tribunal’s French translation of the awards. A stimulating and lively introduction is provided by V.V. Veeder Q.C., who appraises the contribution of the awards to international law.