International Law Keyed to Damrosche
Fireman’s Fund Insurance Co. v. Mexico
An arbitration was pursued against Mexico (D) by Fireman’s Fund Insurance Company (Fireman’s Fund) (P), a U.S. insurance company that owned debentures issued by a Mexican financial service company. Fireman Fund (P) alleged that Mexico (D) expropriated its property. The plaintiff also claimed that the defendant had aided in the purchase of debentures issued at the same time by the same company that were denominated in Mexican pesos and owned by Mexican investors, but turned its back to the purchase of the U.S. dollars owned by Fireman’s Fund (P). Though the tribunal did not rule in favor of the plaintiff that Mexico (D) expropriated its property, it delineated the contours of what “expropriation” means.
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