Westberg, John A., The Applicable Law Issue in International Business Transactions with Governmental Parties - Rulings of the Iran-United States Claims Tribunal, 2 ICSID Rev.-FILR 1987, at 486 et seq.

Thus the applicable general principle in Oil Field of Texas was that where a de facto succession to rights and obligations takes place, the surviving entity is under an obligation to pay appropriate compensation to creditors of the company that had ceased to exist.

[Set out in detail.]