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Making Foreign Investment SafeProperty Rights and National Sovereignty$
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Louis T. Wells and Rafiq Ahmed

Print publication date: 2007

Print ISBN-13: 9780195310627

Published to Oxford Scholarship Online: May 2007

DOI: 10.1093/acprof:oso/9780195310627.001.0001

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 CalEnergy: Claiming Official Political Risk Insurance

 CalEnergy: Claiming Official Political Risk Insurance

Chapter:
(p.222) 14 CalEnergy: Claiming Official Political Risk Insurance
Source:
Making Foreign Investment Safe
Author(s):

Louis T. Wells (Contributor Webpage)

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780195310627.003.0015

This chapter examines another foreign investor that chose not to renegotiate. Although the investor proceeded to arbitration ahead of the Karaha Bodas Company (KBC), the driving force appears to have been its insurance from the US government agency the Overseas Private Investment Corporation (OPIC). Like KBC's owners, this investor showed no interest in maintaining business prospects in Indonesia or elsewhere in the developing world. US intervention was particularly strong in this case and may have contributed to deteriorating relations with Indonesia at a time when cooperation between the two countries was of growing importance in the battle against radical Islamic terrorism.

Keywords:   Indonesia, foreign investment, arbitration, Karaha Bodas Company, Overseas Private Investment Corporation, insurance

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