AFFAIRE RELATIVE A CERTAINS
EMPRUNTS NOKVÉGIENS *
(I;I<ANLE c. NOIIVI:GISJ
CASE OF CERTAIN NORWEGIAN
LOANS *
(FIZANCE W. NORWAY)
*NO~B ditGreffe- Les renvoij.un textc ayanfait l'obd'uneédition
provisoiriil'usage de la Count Cte ceitip1acé.des renvoaux pagesde
la prdscntcditiodéhnitivc.
*Nofc by the Rqislvy.-AngrefercncrsLoa tcxt wIiich was isrued in a
provisional cditfor the use uf tCourthave becnreplaced byreferentos
the pagesin thepresent dcfinieditiori. Le préscnt volumc doit 2trc cite conimc suit:
(C. 1. J. Mémoires, Aflaire relative 4 certairts eiir$rzortsilorvLgieits
(Frafzce c. Norvège), vol. 1.))
This volunle should bc quotecl as:
"I.C.J. Pleadings, Case of certain Norwegiala Loaris
(France v.A'orway), Vol. 1."
NO de vente :
Sales number 8
SECTION A.-APPLICATION
INSTITUTING PROCEEDINGS
1.-THE FRENCH AMBrlSSrLDO12IN THE NE'l'SEBI2LANDS
TO THE REGISTHrLR OF THE INTERNATIONAL
COUKT 01; JUSTlCE
[Tm ~~,slulioby lIhe Ii'cgi.rlry]
The Hngiic. July 6th, 1955.
Sir,
1 1i;irrtlic1iciiir)trisr'ric!;ciiIii.ri:niti~1r:ttcrfrtitnthe :\gent
riftlicI;civcriimcrit oftlicFi-cricli lit:lsulrltrni~l;n~ittinto y011 011
behalf of thc 1;rciiclz I;ovcbrnmcrit,iii t~vo ctililesan :Ip1-ilic:ition
institutins ~iriiccccliiigbefcii-cthe 1iiternntio11;tlCourt of Justicc
ariclrelatirig io;idisl~iitcivitti the C;overnnicnt ufthe liingdom of
Norlvay coliccrni~~;: thc payrnent of ïnrious Nnrircgian loans
issued in Frürice.
1 hüvc tlic f~irt11eIirit~outo inforr~~you that Professor Gros has
been appointcc1 Agr:i~t uf thc Fretich Govcrnincnt in tlziscasc.
1 Ii;tvc,etc.
II.-TIIE AGEX?' 01' THE GOVERNMENT OF THE F1ZENCH
REPUBI,IC TT3'I'HERICGIS'I-R:lI':OF THE 1NTERNATlONAL
COUliT Ciil;JL*Sl'lLE
[Tvrr~isLrittuiby /IliIi'egisiry]
Paris, JUIFjth, 1935.
Sir,
Ihave the honutir to ;iddreçs to yoii, on bchalfofthe Govcrnmciit
of thc French Republic, an ;Iliplic;ttiori instit~itinprocceclings
beforc the lntcrrintiunal Court ofJusticc and relatiiigto a dis~ï~itc
with tlic Governtncnt of thc I<ingclorn of Norway coiiccrning thc
paymcrit of various Norwcgian lonns içs~ieclin France.
I have, ctc. III.-APPLICATIO NNSTI'I'UTING PKOCISEDINGS ON
BEHALF OF THE GOVERNIbIEN'l' OF THE FRENCH
REl'Li BLIC
[Sranstatto~t by the liegisluy]
To thc Presiclent
And Mcmbers of thc I1ltcrtl;itiuiialCourt of Justice,
1, the tindersigned, duly authorid by the Govcriliiient of the
French Repiiblic, selectirig as address for service thc Frcncli
Embassy at Tlic HLI~S'~IC,
Having rcgarcl tu Article :$CI, ):ii';tgra~2, of the Statiitc of tlic
Coiirt aiid T» tIlc :icçc~itntîccof tlic coiii~iiilsoi-yjurisdicticin of lie
1ntcri1;itioiir~Criiirt ci.liistici: liy tlic iiingclrm of Norivaon Nrivcrii-
txr 16tl1, 194Ot ;i~i{l)y tII(*ITI-C~IIC!<t:p~~l)li111 b1:1rcl1~st, 194cj:
1-i:iviiigi-cg;~ro :\rt icli:40, I);IT~L~C;TIoI)tlicStat~tc~)F~IICCOIII.~,
Have tIic Iioiioui- tci ;iclclrcssto you tl1c frillo~ring:llipIicatici~i :
Thc 1<i1igd011 o1f Nor\r.ay iss~ic<ian tlic lTreticli ni;irkct a ccrtiiin
I~LIIII~L'of intcr~~;ttional l)ciiiclmnclc jinjuLblc iii gold or incluclirig
ü plil cl;riis~:wliicli ;Ire Ilcld 1))-Fi-clic11riatioriaIç. Ccrt:iirof tlic
lnanç wcrc f l;itccl clircct1~-b!- tIic I<ingdom of Norwliy, otlicrs
throiig21 tFir itîtrirriicrli;ir!. of 5t,itc banks, tIic klottgage B;irik of
thc iiingclnni cif Nortv:i\; niicl thc Si11311Holclirig and \Vorl<crs1
Hotisitig 13:1iik,oii various d,rtcs Iict\i~~n rSSj niid 1907.
Six lonlis f1o:iti:rl ciii-c.tçly Iiy tlii: I<iiigcloi~iof Nor~vay iii 1~96
(3y0 go!(!), I()OO (3; [;{~<~IcI ),jC)2(3:: gol~l), L9U3 (y% gulci),
1904 (3.1"1, grild), Igng (,il';: gold), :in:iri the foIla\\-iiig tcrins :
"\Vc, Chir Iieirs nriclsLiçccssorsiii tlieLovcrrimcnt of Noriva\: (iti
respcct »i tlic 34 'x, 1905, \Vc, tlic I;ovci-nnic~itof thc 1l;ingclomof
Norwaj.),
" Prriclaitii aiid clcc1;irr: liy tliis origiiinl 13ond thnt .... \\'e
liavc a)litr;~cti:cl iii Olit riarnr: ntlil oii Iiehalf of Otir Iiingclotir
of Norimy :iiiriiticlcrtliciiniiicdiatc gu:irailtce of the Xorn'egiari
Natioii .,.ti-itli tlic CrLilif Lyoiiiriiand thc i'nnyrtericPliris et ries
Pays- l<ns iii I'ni-is..n. 10:iii»f ....liroricr (gold currencyj = ....
francs = ....~iriiiridsstr:i-lir"g.
l'lie boiids ril tIi(: rSg6, ~goti, 1902, 1903. rgof. aiid 1905 loans
also coiicliic.li:witii tlic iollun-riig \rcirds : "Thc tjci~rcrof this IJü~id
[Olilip/iou .finu/ielle] lias n dcbt cliic of tIircc hriridrcd and sisty
kroiicr iri gulcl curr~cbric!-,rlii-iliuiirlrccifraiiçs ur ninetceti poiiilcls
sixtccir shillirigsand li~cl~c~icc stvrIii~...."
Thc foriiiii1;i a1q)cnring ori tlic \'arious loati bonds of thc ?dort-
gngr ISiiik of tlicbIiirigdnr-iirilKcii-ivay,ir-Iinscc;ll~itall~clo11tritlic "We cEcclarethat we OIVC tli~ ~ICCL~C T f this 3; % (bank) Rond ....
thc amourit of tIircc hu~idrcrl 3rd sisty kroner, five liundrccl fraiiçs
or four Ii~itidrcclüild livc IieiçIisnrarks, oiic ki10grai-t-o if fille gulcl
crilciil~itccnl t 2,480 krorier or 2,jgO [2eichsii1arks,or 3,444.44fn~iics."
liiiially, tlic 19043 {x g,rilc1ci;i of tlic5111: ii oldiilg ;tnd Workcr s'
Hriiisirig IJaiik. wliosc c;il~ilrilIii~lori;.~tii tlic Stcitc, co~itaii~stlie
follo\r~ing : "Ive dcclarc tlint ri.^ O\\-C tlic Iicnrer of this 3: '::,
(bank) I3onc1,guni-aritrecl l)?. ZIic Nririvr'giaiiCjt,~tc,ari ainouii t iii
gold of thrcc Iiuiic~li-cd nntl si1t.v Icroncr or Ji\-chiii~drcclfrarics cir
four 11undrt:d ancl fil-c Eit:icIisiii:ir-Ls,tIic kilobram of litii: giilcl
being cn1ciil:~tccl3t 2,4 So ki-ciiicr cir 2,790 Ri:iclisiiinrks. " I'lic
Borid alsu i~icIudrs tlic fiilIci\iirigcl;iiisc: "l'lic lZoya1Miriistr>. tif
Fiiiaiicc ;tild L~islorii!j.;ict iiig ci~i 1ii:li:itif tlir:Not.\i.cçini~C;o\.cr~i-
ITICII~~ g~i:i~t~it(-i;si.n :~cci~rtl IiCC \vitli ~;LS;I~I pli :{ of lit: I-~;IIIS
011 Si11al11-~olcli~i~ ;I~C~ IVorIï~~rs' I-Ii1115in .-\ch of JII~Cqtli, 190:;.
thc ~?:l!~iiicii tif iitcrcsi iiiitliis I<oriclissiivcl1)!- tlic 51riallIioldiiig
aiid Workcrs' I-Ioiisiiigl3,iiil;, 21% \i(hl;is its ri~tlcrii~)ti»~ait rnnturity
iti tlic LniiIiiicrsp~:ciIii:~ilii (IIL1<01i( l.
A Iioyal clccrcc rl~iiccl 5cptrriibcr zytli, 1g31, suspcildcd tlie
cciux~ertihil~ty cif i~otcs issuccl 1):-thc Baril.; of Kortvay ;~nçZ siiicc
that clntc tlic servici: of tIic Ioaris rcfilrrcd to aho-i-c lias I,r:c:~i
effectecl 011 tlic ]>:\si:>f tlii*noti~iii:ilaiiiount of thc couporis or ufthc
rcpaicl I)o~I(I~ l>!- p:i> II~CIt il1 Xor\\-i:gia~~Iiroi~~rOIIIJ-.Tlw Frc11c11
lioldcrs of Nor-zicginii gcilrl I~triit ri>sj.rrsciit~dbj~ tIie Xation:il
Associaticin uf 1't.r'ii~lScc~~rity1-l(i1rlcrs Cl'.lssocinf iuri riotiuiialr iles
+odclrvs frriII(.CI~Srit~itf~tt/'~~tl~)lii/ih~js, I-CLI~IL'IÇCCtIZCrcç~rrii111iiin
of tlic sci-\.icia tIic: 1o;iiis[)iltlic: Ii:isis of tlii: iioiiiiri;~l~itnu~iiitiii
gold, iriaccord:~iicc:\vit11 tlic sulistüricc (~i tlic clcbt ;~ssumcd II!,
Nornlag':itirl IIIi:rcciit 1011 (if tiic pso\:isicins of 111~c:ui~trrict iitidt:~-
whidi ilic Iiorirls 1vr:ir issuccI irtrr:sl-icctof c:~ch loan. Ilie \\-litof
1939 iiitciruptcd tlii:disciissioiis ïvliicli i\*cresul~scclucntl?;rcsurricd,
but ivithuut sucçc';s; the 3Iursg;igi:13:iizk of the I?irigdot~iuf Nor~vriy,
itî particiilar, icfusccl tu rcfchr tlic cliivstioii,as proposed 1))-thc
Nationnl itsscici:itioi-iof 1;rcriçli Scciirity Hr>ltlcts, ti,tlic Cniirt of
Arliitra tiori cçt;il~lislicrlII? tlitb1itcriiritici~ialChaiiibcr of Coninicrce.
The Govcr~irirciitof tlic 1;rciicli I?c~iiiIilic,rioting thnt tlic Kor-
~r.egi;liiniillirii.iii:hIoril; iio nciinii iii 1iiirsii;iliccof tlii:~ir»liosals
ri~r-~d1 c1:.tiic I'I-~.iiclilicilrlr,~if Xr>r\i.cgi;iiigvlcl boiicls, cIircctly
sciscd t3ic l\ri!-a3 (;ti\.cr~irrtc.t inf K»i.\i-,ij-in iIii: cuul-çc of ~icgu-
tiatioris :~t Clslo iii nI;iy, Igj3. Uy tliiç ~i-itcrvcritiotlon bchalf of
its iiïltton;ils, tlic I;o~.cri~~iiciiot:f tIic Frcriç1-1licliiiliilic brought thc
qucstioii oii [lie I)I'LII 0C1 cIi~)loii~;~ti~c~~goti;~tioiln sticl tlie 12oynl
Govcri~iiiciit of Norir.;iy ngrcccl tci tlic ul~ciiirig rif co~ivcrs;itions
I~ctnrct:~ci:s~)ertsof the ti1.o countrir:scoiiecrning clle point iridiq-itité.
Corivcis;itioiis:Iic:tri-rxcr ti c v~pcrts \i-crc1rn1-succn ltOsloon Aiigiist
19th ;it~clzotli, 1953, biit It-cltci rio rcsult. The Go~~cr~imen tf thc
Frcrich Rcpirlilic torik III? thc rliicstioti ;igniii iti hIay, rgjq, itl tlie coiirsc of coinmcrcial iicgotirttiotis with thc Royal Governnicrit
at Oslo, iirtd proposcd thlit thc dispiitc sliould bc scttlecl by arbi-
tratiori ; thc 1Zoy:ilGu~crniiicri t did ]lot iicccpt this ~>ropoçnl.
Çoiiscr~uently a lcgal clisputc csists \ictwcen thc tivo Gu~crn-
nicrits. Thc Izoyal Govcrrinîr:tit ccirisiclctstlilit it is ilis;cliargirigthc
delit coiitrricti:cl by it by p:i?iiig Nor1vcgi:in kroncr for the scrvicc
of tlic coiipons nrid tlic rcpayiilcrit of tIic bonds oii the bnsis of thc
nornin;il aniourit iii Nui-\i.cgi;i~ikroircr ; tlic C;overnn-icrit of tlic
French 12cpul>licclrics ~iot ;~cccpt t1ii.s\.ic~\-nrlcl coiisidcrs thnt,
sincc thc boilcl çcrtificntr: t,sprcssb \>ru\-idesfor payiiiént oii tliit
bnsis of thc goIcI viiliic of tlit: :~inciiiiitof tlic botids, the princi11;il
stilnllatiori rif tlic lorins iiliist lic rcçpcctçd. JIoreo\,cr, tItc l<og:nl
Govcrritilcnt h;iç rcc~giii~cclthc r:sistcncl: of ;i clisputc bct\vi:cri
tIlc ttvo Statcs hy accr:~~tingtlii' iiilcrvc.iitioii of tlic Frcnch Rcl~rililic
on bchaIf of ils ii;itioiials.
Ihc pritici\)!i: of tlic \r;~li{lityof t11~gt)i(l CI~LIS iCi~~tcri~;~tic>~~:il
payrricri ts lias I~ccilrr:ccignizctl 1i!. i~trernn tioniil juriçprrtrlcncc, in
particii1:ii-Iiy tlii: t\\.o.Jiir1griir:ts rif blril~~ntli, ~qzc),of thr: l'caii~a-
rir:tit(2riiit.ni liiti:iii;~ticiii;il,{iisticc (Scrics.-1 in./a.r, ciw: coriccril-
iirg tlic payiiicilt of v;ii.ioiis hcrl~i:iri1.riails issiiccl ii~Frnricc ; ciisu
ccinccriiing tl~c:~i;iyiiïciit iii gold uf 131-aziliaiiFecIernl Loiins cciii-
trnctccl in Fr;lnçc). .\s lins ;III-rad!; 1~:cri poiiitcd riiit ribovc, tlii.
F~oiicls:ire rlcit nii~l~igiiciii~t,lic sulist,i~icc of the clebt ccintrrrctctl,
botli rlircctljr bj. tlic I\ingcloili of Non\.:iy arid oii its; behalf II-
baiiks ii'liicli :II.(;tlirccil!. siilijcct to its autliority, lins bccri fiscd
iil gulcl \ïil~ic. l'lic iiitc.~-liret:~tiriicil tllc corilract of tlie varioiis
loar~s coilt~ictctl iii goId II!; tlic 1:ojaI Govcrnment of Xor~v;iy
caiii~nt Jeatl tu Ilic dcsti-~ictioii of tlic ~~rincipnlsti1iiil;ition niitl of
the YCry JlillIltII?'\\'II~c~ tI(:% ~U;LIISrlI-C~1~~igll;lle~I.
Having vniiily r.cscittcclto ~lilil»i~i;iticiiegotintio~zs iii rcspcct cif
tlic poirit at isstie I~ct\\.ccritlic t\vu G»vt:i-irnicnts, thc Go~erri~i-ic~it
of thc I;rpr-idl l<cl~ril,lieliiis rli:cidcd io Iiririg its rlispiitc \vit11the
G~ivcrntiiciitof tlic Iiitigtlorii (.iNor\\,ay to tlic Interlintionnl Coiirt
of b)ilstiçc.
Accortli~igly,;incl sril1ji:ct Ir Y tlic szilisccliicritlircsciitatiori to ttic
Court r)l IL klriiiori;il, Lciiiiitcr-~1i:iiiorinland, in gcricral, of an?;
cvidciicc or nrgrriii~~iit,
So takc iiotc that for tlic I,iirpor;cof al1riotificatioris anclconir-iiuiii-
caticins rclntiiig to tlic lircscrit case, tlic Agent of tlie Govcrnrncrit
of tl~cI;rcridi l<cpiiblic sclccts for his address for service tlie French
IZitil~;issg ;i1 'I'lic H:igtic ,
T(ir~iotifytlir: ~ircsciitAliplic;ilion, iii nccortlancc {rith ;\ri iclc 40,
paragr:i~Ii 2, of tli~ St;it~ilc uf tlic C'oiirt,tu the Govcrrirrici~t of 11ic
Kingdu111of Nor\r;iy :
To atljiiilgi:;iiitlclc.cl;~rr :,Ilctlirr tlic Gcivcriiii~cntof tlic li ili~dci~i~
of Nurii;ky n~ilic:irs cirriot, nncl ;iftcr SIIC~ ti~~~t'-li~i~ ILSçthe Courtiiîri\ lix iiitlic ;ilisciicc,tifagi ;igrc.cbini:iIic.t\\.ccrithv l',irtirs :
?.
1h;it ttic iiitr>ri~atioii;illi~itis issucd li!. tlic liitigcloiiicil Korw,iy
III ~S(j6 (:itx, golcl) , Iqou (-3 '7c g'Kl~l), I902 (-3;t,?,gold) I{,LI+{
(3';/ugoltl), 1934 (3; ': g~ld). I~U j (31 goid), tlic ~iitcl.i~atiuilril
loans issucrl tlirb hIortgag~. 13aiik of tlie Kiiigdu~i~of Nor\\-il!-.
-3; y!< , old ~585-rSgS r,iii, rqoj, 131"~ 19~9 i~d 4% g~kl rqrio,
tlic iritcrria1ioii;~llunii issiribtlII!. tlii:hiii,tll Holcling anrl \Vui-k~brs'
Hoirsii~g i3üiik, :< ',$,5.01~1 iii r~l(i4~stili~il~itc 111golcl thc ;irnoiiiit
of thi: borroivcr's ulilig~itioii foi tlic. scr-\.icr.cif criiiliciiis:nrid slic,
rccleinlitioii of I~uiicls .
Ancl tlirit LIic Iiciriii\ict c;iii uiil!. ilzsc1irii.tl.ii: 5ubstaiicc (ifliii
dcbt Ly tlic ~iaytiicrituf tlic gold valuc of tIi1cnupoiis 011 tlicdiitt.
of 1)i1y11u31 1t11~1of tlii. golil \.;iliitriF tiic,ri~rlc.i>ii~r1)ciiids 011 tli~b
~1i~tPO[ I-~h~);l,bl~l~!~lt.
Application Instituting Proceedings