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.

Over the decade December 1999 to August 2009, fifteen arbitral tribunals and commissions for which the Permanent Court of Arbitration (PCA) in The Hague provided registry services rendered thirty-one public awards and decisions. These arbitrations have all addressed matters of international significance, such as, inter alia, State sovereignty, the interpretation of treaties, the delimitation of land and maritime boundaries, the laws of armed conflict (jus in bello and jus ad bellum), human rights, the law of the sea, environmental law, and the protection of foreign investors. They include four arbitrations brought under Annex VII of the 1982 United Nations Convention of the Law of the Sea; the recently concluded arbitration between the Government of Sudan and the Sudan People's Liberation Movement/Army; and the two commissions established by the December 2000 peace agreement signed by Eritrea and Ethiopia, the Eritrea-Ethiopia Boundary Commission and the Eritrea-Ethiopia Claims Commission. This volume contains detailed, concise summaries of those thirty-one awards, and a critical analysis of the PCA's contribution to international law and international dispute resolution by Professor J.G. Merrills, Professor of International Law at the University of Sheffield, United Kingdom. The book is edited by former PCA legal staff, Belinda Macmahon and Fedelma Claire Smith. This collection will be an invaluable research tool for academics and practitioners of public international law and related disciplines, and for anyone wishing to gain an insight into the work of the PCA in recent years.