(March 6, 2004) The principle that foreign debts incurred by an autocratic leader do not have to be paid back by a successor government – is back on the international agenda.1 As it stands, though, his renewed interest in the ‘odious debt’ principle lacks a thorough normative assessment.
(February 26, 2004) “Certainly in the eyes of the international community Lahmeyer looks far less blameworthy than does Acres, when in truth it is at least, if not more blameworthy.”
(November 23, 2003) The New Partnership for African Development (Nepad), which many of Africa’s leaders have pinned their hopes on for economic recovery, has been blasted by civil society as another form of colonialism and imperialism.
(October 22, 2003) Debt relief groups have urged Iraq’s debtors to adhere to a 100-year-old legal principle to resolve Iraq’s debt crisis and assist reconstruction efforts when they meet tomorrow in Madrid.
(August 15, 2003) The Lesotho Court of Appeal judgment in full, confirming the conviction of Acres International Limited on Count 1 and setting aside the conviction on Count 2.
(April 14, 2003) The Lesotho Court of Appeal judgment in full, confirming the conviction of Mr. Sole, the former head of the Lesotho Highlands Development Authority.
(March 11, 2003) McGill University legal scholars have completed an investigation into the Doctrine of Odious Debts, and concluded that it is both “morally compelling” and “relatively well supported under international law”.
(September 13, 2002) Acres International Ltd. was found guilty of the crime of bribery over the period June 1991 to January 1998, when Acres paid/transferred funds into a Swiss Bank Account held by Zalisiwonga Mini Bam.
(August 13, 2002) This paper examines the case for eliminating illegitimate or odious debt. The argument is that the population of a country is not responsible for loans taken out by an illegitimate government that did not have the right to borrow ‘in its name.’
(June 22, 2002) This document was submitted by Acres International during the closing arguments heard June 22 – June 25/2005.
(June 14, 2002) View Report
(June 4, 2002) View Report
(May 20, 2002) The full court judgment against Mr. Sole, head of Lesotho Highlands Water Project, convicted of accepting bribes from Acres and 11 other engineering companies and sentenced to 18 years in prison.
(August 21, 2001) The World Bank later announced there was "insufficient evidence" to debar Acres from future World Bank contracts, but warned Acres this was an interim decision it would revisit.
(April 21, 2001) A recent Argentinian court decision on foreign debt sends a clear message to the citizens of highly indebted countries that international creditors were responsible for ensuring foreign loans were not used for the interests and needs of the state.