(2) In the decision of claims under this subchapter, the Commission shall apply the following in the following order: (A) The provisions of the applicable claims agreement as provided in this subsection. (B) The applicable principles of international law, justice, and equity. In determining the value of a claim under international law, the Commission shall award the fair market value of the property as of the time of the taking by the foreign government involved (without regard to any action or event that occurs after the taking), except that the value of the claim shall not reflect any diminution in value attributable to actions which are carried out, or threats of action which are made, by the foreign government with respect to the property before the taking. Fair market value shall be ascertained in accordance with the method most appropriate to the property taken and equitable to the claimant, including— (i) market value of outstanding equity securities; (ii) replacement value; (iii) going-concern value (which includes consideration of an enterprise’s profitability); and (iv) book value. In the case of any claim for losses in a service industry, the appropriate basis of valuation shall be presumed to be that referred to in clause (iii). For purposes of the preceding sentence, the term “service” means economic activity the output of which is other than tangible goods.


22 USC § 1623(a)(2)

Scoping language

in this subsection
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