N.V. Assurantie Maatschappij de Nederlanden Van 1845 v. P.T. Escomptobank.

Abstract

Jurisdiction — Territorial limits of — Foreign exchange regulations — Application to assignment of balances claimable abroad in foreign currencies — The law of the Netherlands.

Aliens — Position of — Respect for property — Expropriation — Recognition by foreign court of effect of measures placing under control and nationalizing assets of national subsidiaries of foreign company — Relevance of political objectives for such measures — Discriminatory and confiscatory effect of measures — Control Orders and nationalization Decrees of Indonesia against assets of subsidiaries of Netherlands company — The law of the Netherlands.

Treaties — Termination of — Unilateral denunciation — Effect of — Whether courts of co-contracting State obliged to apply foreign exchange legislation of Party in breach — Agreements between Netherlands and Indonesia concluded at Round Table Conference, 1949 — The law of the Netherlands.

Recognition of acts of foreign States and Governments — Non-recognition of acts contrary to international law — Measures placing under control and nationalizing assets of national subsidiaries of foreign company — Relevance of political objectives of such measures — Discriminatory and confiscatory effect of measures — Control Orders and Nationalization Decrees of Indonesia against assets of subsidiaries of Netherlands company — Legality of foreign exchange regulations connected with nationalization measures unlawful by international law — Effect of unilateral breach of financial agreements upon obligation of co-contracting State to recognize foreign exchange regulations of other Party — The law of the Netherlands.