The Ditta Luigi Gallotti v. The Somali Government

Abstract

State responsibility — Nature and kinds of — For revocation of, or interference with, concessions or concessionary contracts — Termination of concession in accordance with its terms — Whether Government liable to pay indemnity for loss of concession.

State responsibility — Measure of damages — Indirect damages and damages for loss of profits — Termination of concession in accordance with its terms — Whether Government liable to pay indemnity for loss of profits.

State responsibility — Interest — The dies a quo — The dies ad quern — Arbitral award — Interest to run from date of award to date of payment.

Disputes — Arbitration — In general — The law applied by arbitral tribunals — Valuation of property — Criteria — Market value — Original cost less depreciation — Replacement cost less depreciation — General principles of justice and equity.

State responsibility — Damages — Award of damages in general — Grounds for awarding damages — Concession — Embarcation and landing services for passengers and goods in Somali ports — Cancellation by Somali Government according to terms of contract — Obligation under contract to purchase craft and equipment, including dockyards and fixed installations — Provision for arbitration of valuation — Whether obligation to pay only for each item actually taken over by Somali Government or to pay additional indemnity for intangible assets and loss of profits — Date of valuation — Criteria for valuation — Market price — Other criteria recognized by international tribunals — Original cost with depreciation deducted — Replacement cost with depreciation deducted — General principles of justice and equity.