(Escrow account) 30 000 000

(Escrow account) 3 000 000

30 000 000 Escrow account

IV. UTILIZATION OF THE ESCROW ACCOUNT FUNDS

Trust Fund for Humanitarian Relief in Iraq (Escrow Account)

III. ESTABLISHMENT OF THE ESCROW ACCOUNT AND RECEIPTS TO DATE

The escrow account was opened at Morgan in December 1992.

I got hold of the escrow officer at his home earlier.

Perhaps even in some arrangement that's a little bit like an escrow account, where you put land in the escrow account and the partner nation takes responsibility for it.

Perhaps even in some arrangement that's a little bit like an escrow account, where you put land in the escrow account and the partner nation takes responsibility for it.

Check with the escrow officer of the 1 st National Bank, Baltimore, Maryland.

No further funds are available from the escrow account at the present time for these activities.

Saudi Arabia made a contribution of 30 million to the escrow account for the Special Commission activities.

14. As of 30 April 1993 a total of 101.5 million had been received into the escrow account.

It also stated that it was prepared to transfer 200 million of this total to the escrow account, as long as the amount transferred at no time exceeded 50 per cent of the total funds contributed or transferred to the escrow account.

Your attention is draw to the status of funds with regard to the escrow account established under the above resolutions.

Your attention is drawn to the status of funds with regard to the escrow account established under the above mentioned resolutions.

13. A competitive bidding exercise was conducted to select a commercial bank in which to establish the United Nations escrow account.

No funds are currently available from the escrow account, however, to pay any significant amount of actual claims to injured parties.

Note 8. United Nations escrow account established under the provisions of Security Council resolutions 706 (1991) and 778 (1992) (statement VIII)

(c) As at 31 December 1993, frozen asset transfers and voluntary contributions to the escrow account totalled 222.0 million as follows

So the family, as the inner core of CarderPlanet was known, came up with this brilliant idea called the escrow system.

In keeping with Security Council resolutions, Iraq was to deposit funds derived from its oil assets to a United Nations escrow account.

As at 1 August 1994, US 265.6 million representing Iraqi petroleum assets and voluntary contributions had been deposited in the escrow account.

The ICAF would function like an escrow account into which the firm pays the funds required for the host country to hire a negotiating team. The escrow account manager then invites the country to select a team, suggesting what skills are required and perhaps even providing a roster of experts.

An additional 3 million has been made available from the escrow account to the Special Commission for a grand total of 33 million.

With the passage of resolution 778 (1992), most of these costs are being covered by transfers from the escrow account (see note 8 above).

The ICAF would function like an escrow account into which the firm pays the funds required for the host country to hire a negotiating team.

The escrow account manager then invites the country to select a team, suggesting what skills are required and perhaps even providing a roster of experts.

The Members of the Board also have joint responsibility for the audit of the United Nations Escrow (Iraq) Account, the United Nations Compensation Commission and for other activities upon request.

One example involves requiring the establishment of offshore escrow accounts to hold foreign currency earnings from a project that is to use the capital goods financed by the export credit.

Also shown are the resources made available from the escrow account or from direct contributions as well as the estimated amount of funding still needed in 1993 for each of these activities.

Thereupon, the current arrears to the Caribbean Development Bank (CDB) would be paid from an escrow account established at the Antigua Commercial Bank in the sum of 10 million East Caribbean dollars.

In this regard, and pursuant to operative paragraphs 3 and 13, Kuwait has decided to make a voluntary contribution of 20 million to the escrow account, for which a cheque is hereby enclosed.

Statement VIII. United Nations escrow account established under the provisions of Security Council resolutions 706 (1991) and 778 (1992) income and expenditure for the biennium 1992 1993 ended 31 December 1993 and assets

The country would be free to choose its own team, but the escrow account manager, aided by an international advisory board of expert volunteers, would need to agree that it is, in fact, world class.

The Government of Japan stated, however, that all of the funds held were subject to, or had to satisfy, the rights of a third party and that consequently no funds could be transferred to the escrow account.

About 38 million of these costs will be covered from funds already designated in the escrow account and from other contributions, but funding will be needed for at least an additional 34 million over the coming months.

This amount includes a total of 33 million transferred from the escrow account established under Security Council resolution 778 (1992) and loans to be repaid from Japan, of 2.5 million, and the United States, of 2 million.

On 11 May 1994, the Security Council agreed to my offer to seek information directly from the oil companies that might make it possible to identify those funds and arrange for their transfer to the escrow account.

15. A bank account for the subaccount of the escrow fund referred to in paragraph 11 of resolution 778 (1992) has also been opened at Morgan Guaranty Trust Co., but this account has not yet received any funds.

20. In the circumstances, additional transfers of frozen funds from Member States that hold such assets and or significant new voluntary contributions to the escrow account are urgently needed to continue the activities mandated by the Security Council. Annex

While the required escrow deposit is not an actual payment to holdouts, given that the guarantee would be recovered if the appeals court ultimately ruled in Argentina s favor, it could be considered a contingent payment in violation of the lock law.

Iraq had made a major effort, in conjunction with the Secretariat and the Security Council, to find a way of drawing on the United Nations Monitoring, Verification and Inspection Commission (UNMOVIC) escrow account for the purpose of paying its assessed contributions.

364. It may be recalled that, in accordance with Security Council resolution 706 (1991), the United Nations established an escrow account into which the proceeds of the sale of Iraqi petroleum and petroleum products, and voluntary contributions, were to be paid.