Companies investing abroad will strive for the best conditions for the operation and protection of their invested capital by and in the host State. The rules of customary international law on the protection of foreign property1 are rather rudimentary in character and to some extent suffer from imprecision. Contractual arrangements have to cope with a structural problem flowing from the imbalance between a sovereign State and a foreign private enterprise: legal instability vis-à-vis all the regulatory powers of the host State. Regulations of the host State in...
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