recovering amounts due on open accounts, as well as expenses
incurred in defending against Italian bank lawsuits, in mitigating
the damage to its reputation and credit, and in pursuing its claim for
redress" ;
in,the Memorial :
"the United States submits to the Court that it is entitled to a declaration
and judgment that :
(a) Italy - by engaging in the acts and omissions described above, which
prevented Raytheon and Machlett, United States corporations, from
liquidating the assets of their wholly-owned Italian corporation
ELSI and caused the latter's bankruptcy, and by its subsequent actions
and omissions - violated the international legal obligations which it
undertook by the Treaty of Friendship, Commerce and Navigation
between the two countries, and the Supplement thereto, and in particular, violated :
- Article III (2), in that Italy's actions and omissions prevented
Raytheon and Machlett from exercising their right to manage and
control an Italian corporation;
- Article V (1) and (3), in that Italy's actions and omissions constituted
a failure to provide the full protection and security as required by the
Treaty and by international law ;
- Article V (2), in that Italy's actions and omissions constituted a
taking of Raytheon's and Machlett's interests in property without
just compensation and due process of law;
- Article VII, in that these actions and omissions denied Raytheon
-
and Machlett the right to dispose of their interests in immovable
property on terms no less favorable than an Italian corporation
would enjoy on a reciprocal basis;
Article 1 of the Supplement, in that the treatment afforded Raytheon
and Machlett was both arbitrary and discriminatory, prevented their
effective control and management of ELSI, and also impaired their
other legally acquired rights and interests;
(b) that, owing to these violations of the Treaty and Supplement, singly
and in combination, the United States is entitled to compensation in an
amount equal to the full amount of the damage suffered by Raytheon
and Machlett as a consequence, including their losses on investment,
guaranteed loans, and open accounts, the legal expenses incurred by
Raytheon in connection with the bankruptcy, in defending against related litigation and in pursuing its claim, and interest on such amounts
computed at the United States prime rate from the date of loss to the
date of payment of the award, compounded on a n annual basis; and
(c) that Italy accordingly should pay to the United States the amount of
US$12,679,000, plus interest, computed as described above";