029- Certain Norwegian Loans (France vs Norway)
On July 6th, 1955, France filed an application instituting proceedings against Norway before the International Court of Justice (ICJ) concerning certain loans that Norway had taken between 1885 and 1909. Interest on these loans had been paid in Norwegian kroner since Norway’s decision to suspend gold-currency convertibility.
France wanted the Court to instruct Norway to reimburse principal and interest on the basis of gold value. Norway, for its part, had raised certain preliminary objections relating in particular to the jurisdiction of the Court.
In its judgment of July 6th, 1957, the ICJ declined to hear this case, on the grounds that Norway had invoked a reservation in its declaration of acceptance of the Court’s jurisdiction.
This summary is provided for informational purposes only, does not involve the responsibility of Dome and should in no way be used as a substitute for a careful reading of the judgment and order of the case.