Keywords
1932
Criticism and interpretation
Public International Law
International Law (Philosophy)
International Economy
standards of reparation
standards of compensation
valuation methods
Argentine awards
How to Cite
Abstract
The note explores the lessons of a number of recent arbitral awards rendered against Argentina with regard to the rules and methods applicable to determine compensation according to the different factual situations under review. The author reaches four preliminary conclusions: (i) Three levels must be distinguished (standards of reparation, standards of compensation and valuation methods), going from legal rules well-grounded in international investment law to mere valuation methods not required by any specific norm; (ii) Unless otherwise provided in a treaty, the applicability of alternative standards of compensation does not seem to be based on the standard of treatment that has been breached but on the locus of damage; (iii) In order to circumscribe such locus, at least three main elements must be taken into account, namely the specific relief requested by the parties, the requirements of causality and the type of State interference; (iv) In light of these three elements, the “actual loss” standard seems better adapted to claims for specific profits, while the “fair market value” standard appears more suitable for assessing compensation for deprivation of a going concern.This journal is registered under a Creative Commons Attribution 4.0 International Public License. Thus, this work may be reproduced, distributed, and publicly shared in digital format, as long as the names of the authors and Pontificia Universidad Javeriana are acknowledged. Others are allowed to quote, adapt, transform, auto-archive, republish, and create based on this material, for any purpose (even commercial ones), provided the authorship is duly acknowledged, a link to the original work is provided, and it is specified if changes have been made. Pontificia Universidad Javeriana does not hold the rights of published works and the authors are solely responsible for the contents of their works; they keep the moral, intellectual, privacy, and publicity rights.
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