HC Deb 17 July 1973 vol 860 cc91-2W
Mr. Skeet

asked the Secretary of State for Foreign and Commonwealth Affairs if he will indicate the issues which are preventing the payment of compensation by the Libyan Government to BP; how long the claim has been outstanding; and what plans he has to take the case to the International Court at The Hague if the claim for compensation remains unresolved.

Lord Balniel

Following the nationalisation of its production interests by the Libyan decree of 7th December 1971, BP made representations to the Libyan Government and requested restitution of its position in Libya or full damages. In accordance with the concession agreement BP has now resorted to arbitration by a sole arbitrator appointed by the International Court of Justice. The Libyan Government have not taken any part in the arbitration. Libya has not accepted the compulsory jurisdiction of the International Court of Justice.

Mr. Skeet

asked the Secretary of State for Foreign and Commonwealth Affairs whether the Government are prepared to countenance further sequestrations of British assets in Libya when prior claims have remained outstanding and unpaid for an unreasonable length of time.

Lord Balniel

Her Majesty's Government always use their best endeavours to secure the payment of full, prompt and effective compensation whenever British property is expropriated.