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The Bank for International Settlements Arbitration (2002 and 2003) concerned the compensation to be paid for privately held shares recalled by the Bank for International Settlements on 8 January 2001. The issues in dispute included the lawfulness of the recall of the shares and the applicable standards for valuation of those shares, the adequacy of the amount paid by the Bank for the shares, and the amount of compensation to be paid. The Tribunal's awards contribute greatly to existing jurisprudence on matters including valuation of an expropriated asset, the award of interest, and the right to damages for breach of an arbitration agreement where one party seeks to bring a claim on the merits before a domestic court. This bilingual edition contains the awards rendered in this arbitration in both English and French, with an introduction by V. V. Veeder, who appraises the contribution of the awards to international law.