Lloyd's Law Reports

Professor Robert Merkin KC; Dr Johanna Hjalmarsson

Document

TAURUS PETROLEUM LTD v STATE OIL MARKETING COMPANY OF THE MINISTRY OF OIL, REPUBLIC OF IRAQ

[2016] 1 Lloyd's Rep. 42

COURT OF APPEAL

Before Lord Justice Moore-Bick,Lord Justice Sullivan,Lord Justice Briggs

Conflict of laws – Third party debt order – Situs of debt due under letter of credit – Whether court had jurisdiction to make order – Whether court entitled to make receivership order in respect of debt – Whether debt created by letter of credit became property of Iraqi state bank – Whether debt immune from execution – State Immunity Act 1978, section 14(4).

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