Iraq business deals may be invalid, law experts warn

[Aidoneus]

This is in reference to the plot hatched by the CPA and their backers to sell off Iraqi state assets, with up to 100% possibly owned by foreign corporations. Big sleazy 'no-no', but shouldn't come as any surprise.

Iraq business deals may be invalid, law experts warn
By Thomas Catán in London
Published: October 29 2003 4:00 | Last Updated: October 29 2003 4:00

The US-led provisional authority in Iraq may be breaking international law by selling state assets, experts have warned, raising the prospect that contracts signed now by foreign investors could be scrapped by a future Iraqi government.

International businesspeople attending a conference in London this week heard that some orders issued by the US-led Coalition Provisional Authority (CPA) might be in breach of the 1907 Hague Regulations and the Fourth Geneva Convention.

"Is what they are doing legitimate, is it legal?" asked Juliet Blanch, a partner at the London-based international law firm Norton Rose. "Most believe that their actions are not legal", she said. "There would be no requirement for a new government to ratify their ."

International law obliges occupying powers to respect laws already in force in a country "unless absolutely prevented" from doing so.

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[La_Serpiente]

1. OH SHIT

One more count to add to Bush's trial in the Hague.

[jonoboy]

2. and what are the chances

of a future Iraqi government nationalising all those industries once they are in charge ?

actually what are the chances of an Iraqi government ever being in charge .?

[teryang]

3. The American junta will have to create a police state

...similar to that of the Shah of Iran and call it the legitimate government of Iraq in order to preclude repudiation of all obligations of this nature alienating Iraqi resources to foreign private interests.

The natural material and political interests of Iraq aren't going to change because we invaded them. As soon as the hammer is removed they will return to the pattern of their natural cultural and political inclinations. They might even act in their own self interest. These property transfers and other proprietary transactions by the transitional government aren't even worth the paper they are printed on.