International Telephone and Telegraph Corporation Sud America v. Overseas Private Investment Corporation

Abstract

State responsibility — Nature and kinds of State responsibility — For other breaches of contractual obligations — Debt of Chilean company to United States company — Ability of Chilean company to repay debt weakened by actions of Chilean Government — Eventual nationalization of Chilean company — Whether loss incurred by United States company due to expropriatory action — Continuing process of expropriation — OPIC insurance contract — The law of the United States

State responsibility — Nature and kinds of State responsibility — For taking of, or interference with, property — Expropriatory action — Political activity by multinational company in host State — Attempt to assist candidate in Presidential election — Political activity in national State of corporation — Attempt to persuade national State to intervene in or exert pressure on host State — Whether affecting company’s position in international law — Whether a violation of OPIC insurance contract — Loss in respect of debt — Whether due to insolvency or to expropriatory action — Meaning of expropriatory action — “Creeping” expropriation — The law of the United States