Cover

Half-title

Title

Copyright

Dedication

Contents

Preface

Part: One

1 A Précis of Iraqs Debts

I. Introduction

II. UNCC Debts: Resolved and Half Paid

III. Contractual Debt from Borrowing and Commercial Purchasing Activity

IV. Commercial Debt from Pending Goods and Services Contracts

V. Conclusion

2 The Legal Theory of “Odious Debt”

I. Introduction

II. Essentials of the Odious Debt Theory

III. Earlier Applications of the Theory

IV. Basic Rules of State Succession and Preexisting Debt: Restatement

V. Basic Rules of State Succession and Preexisting Debt: 1983 Convention

VI. Has a Customary Rule Developed That Is Consistent with What Advocates of Debt Relief Actually Want?

VII. Conclusion

Part: Two

3 The Development and Background of Security Council Resolutions 1859 and 1905

I. Introduction

II. Resolution 986: Post–First Gulf War Resolution

III. Resolution 1483: Post–Second Gulf War Complete Lifting of Embargo

IV. Resolution 1546: Removal of Insulation on Post-Transfer of Sovereignty Contracts

V. Resolutions 1790 (2007) and 1859 (2008): Extensions

VI. Conclusion: Resolution 1905

4 The Development and Background of the Iraqi Measures Permitting Departure from Earlier Oil and Gas Contractual Commitments

I. Introduction

II. Article 141 of the Iraqi Constitution

III. Article 54 of the KRG Oil and Gas Law (No. 22)

IV. Reconciling Article 141 of the Constitution with Article 54 of the KRG Oil and Gas Law (No. 22)

V. Conclusion

Part: Three

5 The Concepts of “Finality,” “Related to,” and Assorted Matters: Article 54 of the KRG Oil and Gas Law (No. 22) and Article 141 of the Iraqi Constitution

I. Introduction

II. The Significance of the Concept of “Final[ity]”

III. The Meaning of “Related to” as Used in Article 54

IV. Subcontracts and Other Third-Party Arrangements

V. Conclusion

6 Old Oil and Gas Contracts and Those of More Recent Vintage: Iraqi Constitutional Protections of Contract Rights and Their Significance on Legal Claims

I. Introduction

II. Oil and Gas Contractual Arrangements of the KRG Concluded before or after 1992

III. Constitutional Limitations on KRG Article 141 Powers: Article 23, Second, of the Iraqi Constitution and Expropriations

IV. Constitutional Limitations Inherent in Articles 15, 23, First, and 26

V. Conclusion

7 Oil and Gas Assets Affected by the Prosecution of Legal Claims Aimed at Recovering on Debts Owed by Iraq

I. Introduction

II. Relevant Security Council Resolutions and Oil and Gas Lifted from Iraqi Fields

III. Revenues from Sales of Iraqi Oil and Gas

IV. Where Paragraph 27 of Resolution 1546 Fits into the Mix of Security Council Resolutions Providing Protection to Iraqi Oil and Gas Assets

V. Actual Iraqi Oil and Gas Properties, and Legal Interests in or Shares of Such Properties or Oil and Gas and Revenues from Sales

VI. Nature of the Legal Action Brought and Against Whom Maintained

VII. How the Preceding Interfaces with Illustrative Judicial Decisions Involving Actions to Recover on Debts Owed by Foreign Governments or Their Instrumentalities

VIII. Conclusion

8 Issues Associated with Prosecuting a Claim in the United States with a Glimpse at Other Jurisdictions: The Impact of National Law

I. Introduction

II. Developmental Background of U.S. Protective Measures: Executive Orders 13303 and 13364

III. Principal Differences from Security Council Resolutions 1483 and 1546

IV. Protection Applied to Diverse Interests in Iraqi Oil and Gas

V. Connections of Nationality

VI. A Glimpse at Analogous Measures in Other Jurisdictions

VII. Conclusion

9 Recognition and Enforcement of Determinative Actions Affecting Iraqi Oil and Gas Assets

I. Introduction

II. Determinations or Decisions in Nonjudicial Proceedings Involving Iraqi Oil and Gas and Placed before Courts in the Nation of the Rendering Jurisdiction

III. Recognition and Enforcement of Nonjudicial Determinations or Decisions Involving Proceeds and Obligations from Oil and Gas Dispositions

IV. Nonjudicial Determinations or Decisions Placed before Courts of a Foreign Nation-State

V. Conclusion

10 Lessons Learned from the Iraqi Experience Transferable to Other Instances of Debt Owed by Resource-Rich Nations

I. Introduction

II. Claims-Resolution Mechanisms and Debtor-Nation Laws Permitting Contract Alteration and Escape

III. Use of International Instruments to Articulate Standards

IV. Tightening the Standards of National Implementing Measures

V. Conclusion

Epilogue

Index