Banco Nacional de Cuba v. Chase Manhattan Bank

Abstract

State responsibility — Nature and kinds of — For taking of, or interference with, property — Expropriation of foreign — owned banks by Republic of Cuba — Measure of compensation — Lack of clear international law standard — Effect of resolutions of United Nations General Assembly — Effect of compromise settlements — Appropriate compensation — Whether including 'going concern value' — The law of the United States

States as international persons — In general — Recognition of acts of foreign States and governments — Act of State doctrine — Expropriation of foreign owned property — Whether justiciable — counterclaims in respect of expropriation — Conditions of justiciability — Effect of Executive statement that act of State doctrine need not be applied — Damages issue — Whether justiciable — Lack of clear international law standard — Measure of compensation for expropriation — Appropriate compensation — Whether including ‘going concern value’ — Effect of resolution of United Nations General Assembly — Effect of compromise — Nationalization of foreign banks by Cuba — The law of the United States