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Certain Norwegian Loans (France v. Norway)
International Court of Justice
1957 I.C.J. Rep. 9 (July 6)
Before World War I, Norway (defendant) and two Norwegian banks issued bonds to certain French nationals. France (plaintiff) claimed these bonds had clauses promising and guaranteeing payment in gold. However, Norway subsequently passed legislation allowing payment with Bank of Norway notes instead of payment in gold. France proposed that an international dispute-resolution mechanism should resolve the claims of French nationals seeking repayment of these bonds in gold. France and Norway had previously declared acceptance of the International Court of Justice’s (ICJ) compulsory jurisdiction under Article 36(2), even though the French Declaration contained a reservation limiting ICJ jurisdiction to matters outside the French national jurisdiction. France brought the claims involving the Norwegian bonds issued to French nationals to the ICJ. Norway objected, arguing that the claims of these French nationals were within the jurisdiction of the Norwegian courts and that these claims were a matter of Norwegian law.
Rule of Law
Holding and Reasoning (Quintana, J.)
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