- 17 - With respect to Aminoil’s claims for recompense for its assets, Kuwait argued that the only proper measure of compensation for any of Aminoil’s assets was book value. Kuwait’s position reflected the stated policy of OPEC that compensation to Western oil companies should be based exclusively on book value and that any other basis for compensation, including, in particular, any measure of lost profits, should be refused. The parties submitted a joint report to the tribunal (the joint report) that showed unagreed amounts for book values as follows: Aminoil’s Kuwait’s Position Position Assets (in thousands) (in thousands) Fixed assets $10,619 $8,610 Other assets 31,857 28,075 Total $42,476 $36,685 5. Rate of Interest; Inflation With respect to the interest that was to be determined by the tribunal, only Aminoil suggested any specific rates of interest. Kuwait proposed only that the interest rate be an “appropriate rate”. Aminoil suggested the following rates of interest: 1973 7.90% 1974 8.43% 1975 7.21% 1976 5.23% 1977 7.39% 1978 11.16% 1979 13.17%Page: Previous 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 Next
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