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.
General
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