By Rex J. Zedalis
This quantity offers the 1st and purely entire exam of the criminal matters surrounding overseas debt restoration on claims opposed to Iraqi oil and gasoline. as well as offering a photo view of Iraq's extraordinary debt duties and an research of the importance of the speculation of odious debt within the context of the Iraqi state of affairs, the record of felony matters tested comprises appropriate provisions of the Iraqi structure of 2005, controlling protection Council resolutions, pertinent articles of the KRG oil and fuel legislation (No. 22) of 2007 and the numerous nuanced and technical questions raised thereby, criminal pronouncements aimed toward holding Iraqi oil and gasoline and people followed in chosen different international locations, and basic difficulties linked to attractiveness and enforcement of awards or judgments that can contain such oil and gasoline or sales from the sale thereof. additionally mentioned are the teachings discovered by means of the dealing with of the Iraq debt adventure and the transferability of these classes to destiny events during which resource-rich countries could have amazing monetary tasks to different contributors of the area neighborhood or their nationals.
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Extra resources for Claims against Iraqi Oil and Gas: Legal Considerations and Lessons Learned
Pdf (accessed Feb. 4, 2009). See “Iraq Announces Conclusion of Commercial Debt Settlement” ( Jul. pdf (accessed Feb. 4, 2009). 20 Claims Against Iraqi Oil and Gas commercial claimants may not have participated. 73 In mid-May of that year, invitations were sent to those deemed eligible for settlement74 ; even as late as the beginning of 2010, results of that process had not been formally announced on IDRO’s Web site. There has never been any readily available public announcement identifying those who submitted claims to IDRO.
The theory did not to extend to situations in which there was a mere passage of governmental authority from one party to another. ”14 With Iraqi provincial elections completed by January 2009 and national elections scheduled for early 2010, this means that if Prime Minister al-Maliki’s Shiite-dominated secular government were 10 11 12 13 14 See Sarah Ludington & Mitu Gulati, supra note 7 at 597 and 617–18. See id. at 613–14. See id. at 617. See id. at 618. See id. at 617. The Legal Theory of “Odious Debt” 27 ousted from power by Saddarist sectarian hardliners, or even some fringe Islamist group under the control of the seriously weakened alQaida, Iraq would continue to be liable for payment of debts incurred by the al-Maliki government.
See IMF, “Iraq: 2007 Article IV Consultation, Fifth Review Under the Stand-By Arrangement,” IMF Country Report No. 07/301 (Aug. 53 From the standpoint of news-media coverage of Iraqi debt reduction, the Paris Club efforts clearly received the most extensive attention. As described previously, the Paris Club is an informal group of nineteen creditor governments, primarily from industrialized and capital exporting nations: Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Ireland, Italy, Japan, the Netherlands, Norway, Russia, Spain, Sweden, Switzerland, the United Kingdom, and the United States.