and that if those States were to take the immovable property of a corporation for a lawful public use, they would have to make compensation; Italy has not disputed these legislative provisions. 135. Secondly, however, even so there remains precisely the same difficulty as in trying to apply Article III, paragraph 2, of the FCN Treaty: what really deprived Raytheon and Machlett, as shareholders, of their right to dispose of ELSI's real property, was not the requisition but the precarious financial state of ELSI, ultimately leading inescapably to bankruptcy. In bankruptcy the right to dispose of the property of a corporation no longer belongs even to the Company, but to the trustee acting for it; and the Chamber has already decided that ELSI was on a course to bankruptcy even before the requisition. The Chamber therefore does not find that Article VI1 of the FCN Treaty has been violated. 136. Having found that the Respondent has not violated the FCN Treaty in the manner asserted by the Applicant, it follows that the Chamber rejects also the claim for reparation made in the submissions of the Applicant. 137. For these reasons, (1) Unanimously, Rejects the objection presented by the Italian Republic to the admissibility of the Application filed in this case by the United States of Arnerica on 6 February 1987; (2) By four votes to one, Finds that the Italian Republic has not committed any of the breaches, alleged in the said Application, of the Treaty of Friendship, Commerce and Navigation between the Parties signed at Rome on 2 February 1948, or of the Agreement Supplementing that Treaty signed by the Parties at Washington on 26 September 1951. IN FAVOUR: President Ruda; Judges Oda, Ago and Sir Robert Jennings; AGAINST: Judge Schwebel. (3) By four votes to one, Rejects, accordingly, the claim for reparation made against the Republic of Italy by the United States of America. IN FAVOUR: President Ruda; Judges Oda, Ago and Sir Robert Jennings; AGAINST : Judge Schwebel.

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