SOVEREIGN IMMUNITY: ASSETS OF STATE-OWNED ENTITIES NOT IMMUNE FROM ENFORCEMENT

Out-Law on 24th October published a briefing saying that sovereign immunity does not extend to the property of entities which are owned by states, the Privy Council has ruled.  The ruling reinforces that English law recognises states and the entities they incorporate as having separate legal personality.  Sovereign immunity laws give states certain protections against being sued in the courts of another state, as well as protections from their assets being enforced against to satisfy judgment debts.  The case involved a dispute between Tepe, a construction company based in Turkey, and crude oil transportation company Botaş (which is owned by the Turkish state), with which Tepe had entered into 2 contracts for the construction of the Baku-Tbilisi-Ceyhan (BTC) crude oil pipeline.

https://www.out-law.com/en/articles/2018/october/sovereign-immunity-assets-state-owned-entities-enforcement-/

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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