1986

AT

Foremost Tehran Inc v Iran I US CTR

The case relates expropriation of shares held by affiliated US corporation in dairy company in Iran, as a cumulative result of interference of its rights as shareholder, expulsion of personal, refusal to pay dividends, deny of information of the company. The company at the day of the award was still proprietary of those shares

A claim is outstanding on the day of the taking of property, where the alleged expropriation is carried out by way of a series of interferences in the enjoyment of the property [Starrett case] the breach forming the cause of action is deemed to take place on the day when the interference has ripened into more or less irreversible deprivation of the property rather than on the beginning date of the events. The level of interference constitutes a ‘other measures affecting property rights’ as contemplated by article II, CSD, though it may not have risen to the level of an actual taking Such interference attributable to Iran, while not amounting to an expropriation, give rise to a right of compensation for the loss of enjoyment of the property in question. Claim for expropriation dismissed