Lighthouses Arbitration between France and Greece. Claim No. 27.

Abstract

State Responsibility — Damages — Measure of Damages — Damages for Loss of Profits — Amount of Revenue Lost by Concessionaire on Premature Termination of Concession — Method of Calculation — Currency of Payment — Effect of Devaluation of Currency — Choice of Stable Intermedium for Calculation of Amount Awarded.

Arbitration — Procedure — Reference to Earlier Award by Conciliation Commission on Related Matter.

Arbitration — The Award — Currency and Mode of Payment — Effect of Devaluation of Currency — Choice of Stable Intermedium for Calculation of Amount Awarded.

State Responsibility — For Interference with Concessions — Compensation for Forcible Termination of Concession Before Due Term — Treatment as “Redemption of the Concession” — Measure of Damages — Amount of Revenue Lost by Concessionaire — Method of Calculation — Currency of Payment — Effect of Devaluation of Currency — Choice of Stable Intermedium for Calculation of Amount Awarded.