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Case Comments--International Law--Corporations--State Denied Standing To Sue For Injury, Journal Staff
Case Comments--International Law--Corporations--State Denied Standing To Sue For Injury, Journal Staff
Vanderbilt Journal of Transnational Law
The Barcelona Traction, Light and Power Company, Ltd.,(hereinafter referred to as Barcelona Traction) was incorporated under Canadian law in 1911 with its main office in Toronto. Several subsidiaries were formed, all under Canadian law, to develop, produce, and distribute electric power in the vicinity of Catalonia, Spain. To finance these operations, the company issued both peseta and sterling bonds, the shares in some of the subsidiaries providing security to a Canadian bank for the sterling bonds. Revenue produced by the subsidiaries from their operations in Spain was used to service the bond interest. Servicing was suspended for the duration of …