Oil Brokers Ask Supreme Court To Revive Iraq Contract Suit

Law360, New York (April 29, 2013, 6:37 PM EDT) -- Two Cyprus-based oil brokers urged the U.S. Supreme Court to revive a contract fight with the Republic of Iraq over the United Nations' Oil-for-Food program, arguing that the Ninth Circuit's decision to grant the Republic of Iraq immunity sets a dangerous precedent that could threaten future commercial transactions with foreign governments.

Pentonville Developers Ltd. and Marblearch Trading Ltd. filed a petition with the high court April 18 alleging that the Ninth Circuit essentially repealed an exception to the Foreign Sovereign Immunities Act when it dismissed the...
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