A bill to amend the Foreign Sovereign Immunities Act with respect to certain activities of foreign governments.

Summary

Amends the Foreign Sovereign Immunities Act to provide that the definition of "commercial activity" includes any promise to pay made by a foreign state, any debt security issued by a foreign state, and any guarantee by a foreign state of a promise to pay made by another party. Subjects a foreign state to the jurisdiction of the courts of the United States or any State in a case brought to enforce an agreement by a foreign state with or for the benefit of a private party to submit certain controversies to arbitration, or in a case to enforce an arbitration award. Provides that the Federal act of state doctrine shall not be applied on behalf of a foreign state with respect to any claim or counter claim based upon either: (1) an expropriation or other taking of property (including contract rights) without prompt and adequate compensation, or otherwise in violation of international law; or (2) a breach of contract. States that the Federal act of state doctrine shall not bar enforcement of an agreement to arbitrate or an arbitral award. Authorizes prejudgment attachment to secure satisfaction against an agency or instrumentality of a foreign state in certain circumstances. Provides for execution of a judgment against a broader range of commercial property owned by a foreign state.

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Documents

1 official file

• Introduced in House

  summary · EN · 1 April 1987

  Open at official source

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