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Because the US was found by the Hague to have acted illegally when they planting underwater mines in Nicaragua's Corinto harbour during the cold war, crippling the countries economy. The court was going to rule that America pay, probably, billions of dollars in compensation to Nicaragua and America knew this was going to be the verdict so they simple pulled out. This is why America is not in the international court of justice, is because they owe billions which they have no intention of ever paying.
http://en.wikipedia.org/wiki/Nicaragua_v._United_States
The Republic of Nicaragua v. The United States of America[1] was a case heard in 1986 by the International Court of Justice which ruled in favor of Nicaragua and against the United States. As part of its judgment, the International Court of Justice awarded reparations to Nicaragua. The International Court of Justice found that the U.S. had violated international law by supporting Contra guerrillas in their war against the Nicaraguan government and by mining Nicaragua's harbors. The Court ruled in Nicaragua's favor, after the States lost in its argument (that the ICJ lacked jurisdiction to hear the case) and refused to participate. It later blocked enforcement, making attempts at obtaining compliance futile.[2]
The court found in its legal verdict that the US was "in breach of its obligations under customary international law not to use force against another State", "not to intervene in its affairs", "not to violate its sovereignty", "not to interrupt peaceful maritime commerce", and "in breach of its obligations under Article XIX of the Treaty of Friendship, Commerce and Navigation between the Parties signed at Managua on 21 January 1956."
The court had 16 final decisions which it voted upon. In Statement 9, the court stated that the U.S. encouraged human rights violations by the Contras by the manual entitled Psychological Operations in Guerrilla Warfare. However, this did not make such acts attributable to the U.S.[3] |