The requirement of a fair legal process was important for refusing to recognize the legality of a series of “nationalizations” by Western courts and governments, for example, the Chilean copper mines. Chilean law regulating the nationalization of copper adopted the principle that compensation should be reduced by the amount of excess profits which the copper mining companies in the past had been awarded in a discretionary way by the then head of state, President Allende, with no possibility of appeal.498
The ICC guidelines call for the avoidance of “unjustified measures”.499 The World Bank’s guidelines vaguely refer to “applicable legal procedures”,500 whereas the Seoul Declaration and the Draft United Nations Code of Conduct on Multinational Corporations contain no reference to a fair trial.
126 R. Bernhardt (ed.), Encyclopedia of Public International Law, 12 Instalments, Amsterdam 1981–1990.
127 R. Higgins, The taking of property by the state: recent developments in international law (vol. 176), in: Collected Courses of the Hague Academy of International Law, The Hague Academy of International Law, http://dx.doi.org/10.1163/1875-8096_pplrdc_ej.9789024728473.259_392 (2018-06-24).
128 M. Dixon, R. McCorquodale, Cases and Materials on International Law, London 1995.
129 World Bank Group, Legal Framework for the Treatment of Foreign Investment, vol. I: Survey of Existing Instruments: Progress Report and Background Studies, Washington 1992.
130 J. Makarczyk, Principles of a New International Economic Order: A Study of International Law in the Making, Dordrecht 1988.
131 C. Brower, The Iran-United States Claims Tribunal, (in:) Recueil des Cours (1990–V) vol. 224, p. 127–396, Dordrecht 1993.
132 A. Mouri, The International Law of Expropriation as Reflected in the Work of the Iran-US Claims Tribunal, Dordrecht 1994.
133 N. Schrijver, Sovereignty over Natural Resources, Cambridge 2008, p. 258 et seq. and 306 et seq.
134 UNGA resolution of 12 January 1952, 523 (VI)…, op. cit.; UNGA resolution of 21 December 1952, 626 (VII) …, op. cit.; UNGA resolution of 17 December 1973, 3175 (XXVIII), Permanent Sovereignty over Natural Resources in the Occupied Arab Territories, https://documents-dds-ny.un.org/doc/RESOLUTION/GEN/NR0/282/47/IMG/NR028247.pdf?OpenElement (2018-06-24); UNGA resolution of 20 July 1992, 46/235, Restructuring and revitalization of United Nations in the economic, social and related fields, A/RES/46/235, http://unctad.org/en/PublicationsLibrary/ares46d235_en.pdf (2018-06-24); UNCTAD Trade and Development Board, resolution 88 (XII) of 19 October 1972, International Legal Materials 1972 (11), p. 1474.
135 UNCTAD I, Final Act of 15 June 1964…, op. cit.,. No. III; UN resolution 1970 Declaration on Principles of International Law, Principle III.4; UNGA resolution of 17 December 1973, 3171 (XXVIII)…, op. cit., Preamble, No. 3.
136 Art. 1, International Covenant on Civil and Political Rights. Adopted and opened for signature, ratification and accession by General Assembly resolution 2200A (XXI) of 16 December 1966, entry into force 23 March 1976, in accordance with Article 49, https://www.ohchr.org/en/professionalinterest/pages/ccpr.aspx (2018-07-21).
137 Art. 1 International Covenant on Economic, Social and Cultural Rights. Adopted and opened for signature, ratification and accession by General Assembly resolution 2200A (XXI) of 16 December 1966, entry into force 3 January 1976, in accordance with article 27, https://www.ohchr.org/en/professionalinterest/pages/cescr.aspx (2018-07-21).
138 Art. 21, African Charter on Human and Peoples’ Rights adopted 27 June 1981, OAU Doc. CAB/LEG/67/3 rev. 5, 21 I.L.M. 58 (1982), http://www.achpr.org/files/instruments/achpr/banjul_charter.pdf (2018-06-24).
139 Preamble and Art. 15 (1) of the Convention. Convention on Biological Diversity…, op. cit.
140 Art. 18.3, The Energy Charter Treaty, 2080 UNTS 95; 34 ILM 360 (1995).
141 Iran-United States Claims Tribunal, Libyan American Oil Company (LIAMCO) v. Government of Libyan Arab Republic, Revue de l’Arbitrage, 1980, p. 132–191, reprinted in 20 ILM (1981), p. 53, Judgment of 12 April 1977, https://www.trans-lex.org/261400 (2018-06-24).
142 UNGA resolution of 14 December 1962, No 1803 (XVII)…, op. cit.
143 Ad hoc Arbitral Tribunal, The Government of the State of Kuwait v. American Independent Oil Company (Kuwait v. Aminoil), Award of 24 May 1982 21 ILM 1982, p. 976 et seq., https://www.biicl.org/files/3938_1982_kuwait_v_aminoil.pdf (2018-06-25).
144 Sole arbitrator R.-J. Dupuy, Texaco Overseas Petroleum Co. and California Asiatic Oil Co. v. Government of Libyan Arab Republic…, op. cit., No. 59.
145 Ibidem, No. 66–67.
146 Ibidem, No. 26.
147 Principle 5.2., ILA’s Seoul Declaration on Progressive Development of Principles of Public International Law Relating to a New International Economic Order, as adopted by the 62nd Conference of the International Law Association held in Seoul in 1986, see: D. French, ‘From Seoul with Love’ — The Continuing Relevance of the 1986 Seoul ILA Declaration on Progressive Development of Principles of Public International Law Relating to a New International Economic Order, Neth Int Law Rev (2008) 55: 3. doi:10.1017/S0165070X0800003X.
148 N. Schrijver, Sovereignty…, op. cit., p. 264; see also: Ad hoc Arbitral Tribunal, The Government of the State of Kuwait v. American Independent Oil Company (Kuwait v. Aminoil)…, op. cit., No. 90.