Société Européenne d’Études et d’Entreprises v. People’s Federal Republic of Yugoslavia.

Abstract

State Responsibility — For Breaches of Contractual Obligations — Contract between State and Foreign Company — Obligation of State to Fulfil Contract in Good Faith — Effect of Devaluation of Currency.

State Responsibility — Claims — State Control Over Private Claims — Effect of Compromise of International Claims by State of Which Claimant is a National.

Arbitration — Award — Appeal from, to Court of Third State in Which Award Pronounced.

Conciliation — Award by Arbitrators as “amiables compositeurs”.

Arbitration — In General — Arbitration Clause in Contract between Commercial Firm and State — Binding Force on Arbitrators of Exchange of Letters between that State and Government of the Firm-Effect of Such Exchange of Letters — Effect of Devaluation of Currency — Award as “amiables compositeurs” — Appointment of Arbitrator in Default by Court of Third State.