What are the possible legal implications of nationalisation ( expropration) regarding foreign oned properties in International Law

A discussion of the legal implications of nationalisation or expropriation of the property of foreign investors has been presented in this write up and this should be of interest to all those with an interest in international law and business.
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National governments, especially governments in the developing world, have been known to have tried to recover control of their own economy and to attempt to do that which will appear to be for their benefit by trying to nationalise, take or expropriate foreign owned business and property. 1 The expansion of Western economies since the nineteenth century has resulted in outflow of capital for investment into the developing world. However, with the formation of national governments after the granting of independence to the former colonies, the foreign business ownership arrangements came under pressure, with the nationalisation measures that had been taken by the former Soviet Union serving as an example for the newly independent states. 2 It has to be appreciated that although certain countries may feel that nationalisation or expropriation may serve in their best interest, the taking of foreign owned property by a host country poses a very significant risk to continued foreign investment. Not only is nationalisation, or the taking of private assets by public authorities, a deterrent to continued foreign investment, but it also raises significant issues in international law as