For commercial claimants, compensation fund is not the only game in town

Article Abstract:

Commercial claimants seeking damages from Iraq over the Persian Gulf War need to understand that there are means outside of the United Nations compensation fund to collect payment. Security Council Resolution 687 can be interpreted as allowing payouts from the many billions of Iraqi oil dollars that the UN is now holding outside of the funds that were set aside for reparations. The Gulf War has created the possibility of establishing new international law precedents in the field of war damages.

Cases, United Nations. Security Council, Persian Gulf War, 1991, Legislative resolutions

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International law: credibility depends on Iraqi reparations

Article Abstract:

Iraq's invasion of Kuwait, and the subsequent United Nations resolutions, as provided the proponents of international law an opportunity to advance that cause. The Aug 1, 1991, Security Council resolution 705, will fund claims compensation from a 30% assessment against Iraqi oil sales. Iraq has yet to agree to this plan, since oil payments would go through the UN. For international law to be credible, international will must require Iraqi cooperation.

International aspects, International law, Iraq-Kuwait Crisis, 1990-1991

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Performance bonds to Iraq: no need to lose sleep over danger of calls

Article Abstract:

UN Security Council Resolution 687 prevents legal action by Iraq against parties with performance bonds that complied with the UN embargo of Iraq. The language of 687 overrides traditional treatment of performance bonds, and was made intentionally broad. Domestic legislation to codify the wording of 687 has been created in France, the US and the UK, and is under consideration by the European Community.

International trade, United Nations, Surety bonds

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