Valorisation (Germany) Case

CourtObsolete Court (Germany)
Docket NumberCase No. 230
German Reichsgericht.
Case No. 230
Valorisation in Germany Case.

Aliens — Treatment of — Respect of Property — Right to Valorisation — The Rule of International Law — Most-Favoured-Nation Clause.

The Facts.—The appellant, an Italian subject, was the assignee of a Swiss bank, which, in January, 1920, deposited with the defendant, a German bank, two million paper marks for a period of three months, renewable for further periods of three months. The deposit was renewed until August, 1923, when it became worthless. According to section 66 of the German Valorisation Law, these monies were not subject to valorisation. It was contended on behalf of the appellant that section 66 could not be applied to an alien as, according to international law, which by virtue of Article 4 of the Constitution formed part of German law, it was impossible to deny the benefits of valorisation to an alien.

It was also contended that that Article was contrary to the Germano-Italian Treaty of Commerce of 31 October, 1925, which provided that the subjects of the contracting parties shall, when in the territory of the other contracting party, have full liberty to acquire and own property to the extent to which such right is enjoyed by the subjects of any other State. This Article, it was argued, constituted a most-favourednation clause, and the appellant claimed the benefit of the Treaty of Commerce between the United States and Germany of 1925, which laid down that the subjects of the contracting parties shall enjoy the...

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