Home
Site Search
Donate
Homepage
About Us
Odious Debts Online
What are odious debts?
Odious debts campaigns
News articles
Legislation and precedents
Corruption
Publications
Essays and reports
Links
Join Us
Site Map
The Third World's Odious Debt
The South makes compelling moral arguments to cancel its foreign debts. But, it also has an indisputable legal case because the overwhelming majority of those debts are odious in law.
"If a despotic power incurs a debt not for the needs or in the interest of the State, but to strengthen its despotic regime, to repress the population that fights against it, etc., this debt is odious for the population of all the State."
- Alexander Sack, 1927
In 1927, Alexander Sack the world's pre-eminent legal scholar on public debts, defined the Doctrine of Odious Debts, which remains the ultimate legal source on that subject. The Doctrine of Odious Debts, though now 70 years old, helps bring clarity to today's complicated Third World debt situation, and fairness to a tragedy in which innocent Southern citizens pay, and corrupt and negligent borrowers and lenders get away scot-free.

News articles - Canada

Printer friendly version                        Send to a Friend

The Hindu   September 24/2005

CBI probe sought into Lavalin   

A writ petition was filed on Friday before the Kerala High Court seeking a Central Bureau of Investigation (CBI) probe into the award of [a]contract for modernisation of [the] Pallivasal, Sengulam and Panniyar hydroelectric projects and extension work of Kuttiyadi Irrigation Project to the Canada-based company S.N.C. Lavalin.

The petition filed by T.P. Nandakumar, Chief Editor, Crime, also sought CBI probe into the irregularities in the setting up of the Brahmapuram Diesel Power Plant.

It was alleged that as many as Rs.75.28 crores had been lost to the State in the Brahmapuram deal.

The petitioner said that a Vigilance inquiry had been ordered into the irregularities in the award of contract for the purchase of equipment for the Lower Periyar Project in Idukki. However, this Vigilance case was not progressing in the right direction due to political interference.

The petitioner said that the Government was compelled to order a Vigilance inquiry into the award of the contract by the Kerala State Electricity Board for the three hydroelectric power projects.

The petitioner alleged that while the controversy over the SNC Lavalin issue was raging, a file kept by the KSEB relating to the discussion in Canada with the company had disappeared from the Board.

There was a serious deviation from the prescribed procedure in the award of the contract to SNC Lavalin.

Though the Vigilance had registered a case, no headway had been made in the investigation.

The petitioner said that attempts were being made by the Government and KSEB to cover up the whole issue.

The petitioner alleged that in fact, the Vigilance could not do anything on account of political pressures.



Argentina | Canada | Indonesia | Lesotho | Nigeria | South Africa | U.K.
Export Credit Agencies | Multilateral Development Banks | The Doctrine of Odious Debts
Homepage | Links | Join Us | Contact Us