The following arbitral award was rendered by a sole arbitrator in connection with disputes reen the Libyan Arab Republic ("Libya") and two international oil companies arising out of rees of nationalization promulgated by Libya. This award is being reproduced herewith in entirety . The award not only considers many fundamental principles and doctrines of international law but is also unique in two major respects . For the first time in the history of international arbitration relating to economic development contracts , an arbitral tribunal held ; the injured parties were entitled to restitutio in integrum and that the sovereign s t a te obliged to perform specifically its contractual obligations with private foreign investors, iddition, the arbitral tribunal , after reviewing the legal effect in international law of the :ed Nations General Assembly resolutions concerning permanent sovereignty over natural wealth resources, concluded that such resolutions could not be used by the state to violate its :ractual obligations in commercial transactions . The remaining portion of this Introductory : will briefly describe the steps leading to arbitration , the arbitral proceedings and the ilution of the disputes.

On 28th October 1976 an ex parte order was made in the High Court, Queen's Bench Division, under section 2 of the Evidence (Proceedings in Other jurisdictions) Act 1975, giving effect to letters rogatory issued out of the United States District Court for the Eastern District of Virginia, Richmond Division, at the instance of Westinghouse Electric Corporation (Westing- "house"). In the Richmond Court Westinghouse are defendants in a number of actions (civil proceedings) consolidated in that court, by utility companies producing electricity, alleging breaches of contract by Westinghouse for the supply of uranium and claiming very large sums in damages. Westinghouse put forward.(inter alia) a defence of commercial impracticability arising from an alleged uranium producers' cartel.

Ruth Ann Reed, As Administratrix of the Estate of Dan "William Reed, deceased, and as Parent, natural guardian, and best friend of Cynthia Ann Eeed, Decora Lynn Eeed and Julie Marie Eeed, all infants, et al.,