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Henry Neugass v. Austria and Hungary

Published online by Cambridge University Press:  04 May 2017

Edwin B. Parker
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Abstract

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Type
Judicial Decisions Involving Questions of International Law
Information
American Journal of International Law , Volume 22 , Issue 3 , July 1928 , pp. 693 - 698
Copyright
Copyright © American Society of International Law 1928

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References

* Established in pursuance of the agreement, between the United States, Austria, and Hungary which became effective December 12, 1925. Edwin B. Parker, Commissioner; Robert W. Bonynge, American Agent; Ernst Prossinagg, Austrian Agent; Alexis de Boer, Hungarian Agent. Headnotes and references in brackets inserted by the Managing Editor of the Journal .

1 Austrian laws of December 21 and December 24,1867, of June 20,1868, and of December 30, 1907, and Hungarian laws Nos. XII of December 27, 1867, VII of June 11, 1868, and XVI of 1908.

2 As to Austria these states are: Austria, Czechoslovakia, Italy, Poland, Roumania, and the Serb-Croat-Slovene Kingdom (Jugoslavia). As to Hungary these states are: Hungary, Austria, Czechoslovakia, State of Fiume, Poland, Roumania, and the Serb-Croat-Slovene Kingdom.

3 The first paragraph of the annex following Article 203 of the Treaty of St. Germain reads as follows:

The amount of the former unsecured Austrian Government bonded debt, the responsibility for which is to be distributed under the provisions of Article 203, shall be the amount of that debt as it stood on July 28,1914, after deducting that portion which represents the liability of the former Hungarian Government for that debt as provided by the additional convention relating to the contribution of the countries o f the Sacred Hungarian Crown to the charges of the general debt of Austria-Hungary approved by the Austro-Hungarian Law of December 30, 1907, B. L. I., No. 278.

4 The corresponding provision of the annex following Article 186 of the Treaty of Trianon reads as follows:

In addition to the former unsecured Hungarian Government bonded debt to be divided as above, there shall also be divided among the several states, in the same proportion, the amount of the former unsecured Austrian Government bonded debt which represents the liability of the former Hungarian Government for that debt, as provided by the additional convention relating to the contribution of the countries of the Sacred Hungarian Crown to the charges of the general debt of the Austro-Hungarian State approved by the Austro-Hungarian Law of December 30, 1907, B. L. I., No. 278.

5 The provision referred to reads as follows:

Holders of unsecured bonds of the old Austrian Government Debt [Hungarian Government debt] held outside the boundaries of the states to which territory of the former Austro-Hungarian Monarchy is transferred, or of states arising from [out of] the dismemberment of that Monarchy, including Austria [Hungary], shall deliver through the agency of their respective governments to the Reparation Commission the bonds which thejr hold, and in exchange therefor the Reparation Commission shall deliver to them certificates entitling them to their due proportionate share of each of the new issues of bonds corresponding to and issued in exchange for their surrendered bonds under the provisions o f this annex.

6 See also “ Definition of debts,” Administrative Decision No. II, at pages 22 to 25 inclusive. [This Journal, Vol. 21 (1927), pp. 616-618.]

7 The conclusion here reached is in harmony with the decisions of the Anglo-Hungarian Mixed Arbitral Tribunal (see British Clearing Office v. Hungarian Clearing Office, J. H. Gossehalk v. Hungarian Government, V Dec. M. A. T., pages 53-58).