The British Bank Nationalizations: An International Law Perspective

International & Comparative Law Quarterly, Vol. 58 , p. 119, 2009

31 Pages Posted: 8 Apr 2010

See all articles by N. Jansen Calamita

N. Jansen Calamita

National University of Singapore (NUS) - Centre for International Law

Date Written: January 2009

Abstract

The British Government’s nationalization of the shares of Northern Rock plc and Bradford & Bingley plc in 2008 raises important issues about the standard of protection owed to the banks’ non-UK investors and the manner in which compensation should be calculated. The United Kingdom is party to numerous bilateral investment treaties as well as the European Convention on Human Rights, which adopt an international standard of protection for foreign investors and require the payment of ‘market value’ compensation for the property taken. As the analysis in this article shows, the compensation scheme established by the British Government appears to fall short of these obligations.

Keywords: international law; investment law; expropriation

Suggested Citation

Calamita, N. Jansen, The British Bank Nationalizations: An International Law Perspective (January 2009). International & Comparative Law Quarterly, Vol. 58 , p. 119, 2009. Available at SSRN: https://ssrn.com/abstract=1585863

N. Jansen Calamita (Contact Author)

National University of Singapore (NUS) - Centre for International Law ( email )

469 Bukit Timah Road
259776
Singapore

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